Banks not doing too well today -->
12:35 ET Dow +60, Nasdaq +22, S&P +11.68: [BRIEFING.COM] With today's economic numbers, and a number of dovish comments from Fed officials, it is understandable to see a number of rate-sensitive groups at the forefront of today's buying interest... Retail, homebuilding, brokerage, and basic materials stocks are in demand... Strikingly, though, the banks aren't trading with much zest, particularly the regional banks... Although there is budding optimism the economy is poised to recover before the end of the year, the performance of the banking stocks is certainly noteworthy as it would suggest there is still plenty of skepticism with respect to an imminent economic recovery as credit quality issues linger... Briefing.com has suggested before that the participation of the bank stocks will be an essential ingredient for sustaining a rebound effort, and with that in mind, we'd like to see a better showing from the group... NYSE Adv/Dec 1894/1018... Nasdaq Adv/Dec 2062/1457. |
