US bank stocks rebounded nicely Thursday thanks to earnings optimism, with Goldman Sachs’ post-results mega-bond issuance flashing extremely constructive signals.

The decline in JPMorgan shares despite solid earnings points to the diminished role of interest rates in buffeting bank stocks.

Post a dovish FOMC outcome yesterday, US equities are approaching record levels but there are risks involved.

Recent US small cap rally is not tallying with market expectations of a hawkish rate cut by Fed on Wednesday.

Low volatility in US equities stare at high rates currently going in to the Wednesday FOMC.

Broadening of rally to non tech sectors is critical for US equities to keep performing.