The Dow Jones Industrial Average kicked off the month of December in record-setting fashion. The average eclipsed its new closing high on Thursday, getting boosts from JPMorgan  (JPM) and Goldman Sachs  (GS) . However, the S&P 500 and the Nasdaq finished in the red on Thursday.

Despite the surge in the Dow, Caterpillar  (CAT) announced that earnings estimates were too high for ensuing quarters, however still closed higher on Thursday.

Not faring as well were the tech names.

"Those big names are being used as sources of funds to buy better alternatives, like the bank stocks," CNBC's Bob Pisani said on Thursday afternoon's "Closing Bell."

Furthermore, oil continued to gain on Thursday settling 3.3% higher to $51.06 per barrel.

"There are two groups with new highs; bank stocks and oil stocks. Remember, oil was $45 at the open yesterday, we are talking a 15% in the biggest tradable commodity in the world," Pisani noted.

Finally, Friday brings the jobs report, and in conjunction, the 10-Year yield moved higher on Thursday.

"Could it be a perfect storm for the banks? Not only higher interest rates, but a steepening yield curve, an improving economy, and maybe some loan growth down the road," Pisani said.

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