Email| Dow | 11033.31 | +93.36 | (0.85%) |
| Nasdaq | 2488.01 | +27.50 | (1.12%) |
| SP 500 | 1156.40 | +12.36 | (1.08%) |
| 10-yr Note | -30/32 | 2.00% | |
| NYSE | Adv 2380 | Dec 530 | Vol 345 mln |
| Nasdaq | Adv 1660 | Dec 695 | Vol 860 mln |
| Strong: computer and electronics retail; home improvement retail; hypermarkets and super centers; tobacco; health care facilities; semiconductors |
| Weak: wireless telecom; diversified financial services; investment banks and brokerages; regional banks; mortgage lenders and thrifts; life and health insurance; building products |
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Financials falter
Job gains for September exceed expectations; prior months see substantial upward revisions Moody's downgrades multiple UK banks and financial institutions Fitch downgrades Italy and Spain |
[BRIEFING.COM] The S&P 500 recently moved another leg higher so that it came in touch with the 1160 line, but it has been unable to hold that position. In turn, stocks are sitting just shy of their session highs.
Financials continue to provide leadership, which comes in stark contrast to how they started the session. In the early going the financial sector slid to a loss of more than 1%, but it has since rallied to a 2.0% gain. Bank of America (BAC 6.11, +0.34) has been a primary leader. Not only is it the top performing stock in the financial sector by percent gained, it is also the most actively traded name by share volume. Notably, today's trading volume in shares of BAC is already almost half of what the stock averages on a daily basis.
