Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average and S&P 500, which is just below its 50-day moving average, moved higher over the last half hour while the Nasdaq Composite remains in negative territory.

Bank stocks as a group are underperforming the broader equity market. The SPDR S&P Regional Banking ETF (KRE) shows a 1.4% decline and the SPDR S&P Bank ETF (KBE) trades 0.9% lower. Bank of America (BAC 46.31, -0.80, -1.7%) and US Bancorp (USB 48.22, -2.67, -5.3%) trade down despite reporting better-than-expected earnings. Morgan Stanley (MS 134.29, +3.74, +2.9%) has gone against the downside grain after its earnings report.

The S&P 500 financial sector has traded higher, though, up 0.3%.