EmailStock Market Update
Market Snapshot
| Dow | 13319.23 | -65.06 | (-0.49%) |
| Nasdaq | 3082.39 | -16.42 | (-0.53%) |
| SP 500 | 1454.45 | -7.44 | (-0.51%) |
| 10-yr Note | +9/32 | 1.870 | |
| NYSE | Adv 1177 | Dec 1708 | Vol 239.8 mln |
| Nasdaq | Adv 883 | Dec 1474 | Vol 735.2 mln |
Industry Watch
| Strong: Industrials, Health Care |
| Weak: Financials, Telecoms, Utilities |
Moving the Market
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Financials In-line With Broader Market
08-Jan-13 12:00 ET
Dow -65.06
at 13319.23,
Nasdaq -16.42
at 3082.39,
S&P -7.44
at 1454.45
[BRIEFING.COM] The S&P 500 continues to trade near its recent levels as the index trades lower by 0.5%.
Financial stocks began the year on a strong note, and the SPDR Financial Select Sector ETF (XLF 16.91, -0.10) climbed to a fresh 52-week high. Today, the financial sector ETF proxy is lower by 0.6% as it trades in-line with the broader market. Among the majors, Bank of America (BAC 11.98, -0.12) is the biggest laggard, down 1.0%. The weakness comes despite positive comments from RBC Capital Markets. The investment bank raised its target for BAC shares to $14 after the bank sold its mortgage servicing rights and agreed to a settlement with Fannie Mae.
Financial stocks began the year on a strong note, and the SPDR Financial Select Sector ETF (XLF 16.91, -0.10) climbed to a fresh 52-week high. Today, the financial sector ETF proxy is lower by 0.6% as it trades in-line with the broader market. Among the majors, Bank of America (BAC 11.98, -0.12) is the biggest laggard, down 1.0%. The weakness comes despite positive comments from RBC Capital Markets. The investment bank raised its target for BAC shares to $14 after the bank sold its mortgage servicing rights and agreed to a settlement with Fannie Mae.
