Sector of the Week: Financials

This week I traveled from our Florida office to TheStreet.com's main office on Wall Street. Since New York City is the financial capital of the world and, more importantly, since the Federal Reserve spoke on interest rates Wednesday, I thought it appropriate to review the performance of the financial funds this week.

In leaving short-term rates unchanged at 5.25%, the Federal Open-Markets Committee signaled happiness with an economy expected to "expand at a moderate pace" while the housing market shows "tentative signs of stabilization" and inflation is "likely to moderate."

The Fed's economic endorsement prompted the Dow Jones Industrial Average to rally to a new all-time high of 12,682.57 Thursday. ...