Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: horsegirl48 who wrote (6562)	3/4/2002 9:30:36 AM
From: im a survivor	Read Replies (1) \| Respond to of 13815

LOL...Good luck.......

To: horsegirl48 who wrote (6562)	3/4/2002 1:07:21 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 13815

At Last, Financial Stocks Take the Lead By Justin Lahart Associate Editor 03/04/2002 12:44 PM EST Awaking this morning in the glow of Friday's economy-driven rally, Wall Street realized it had made a grave error: It forgot to bid up financial stocks. Monday it was making up for lost ground. Banks and brokers were markedly higher, leading stocks' charge into the green. Among banks, J.P. Morgan Chase (JPM:NYSE - news - commentary - research - analysis) was the big gainer, lately trading up 8.1%. FleetBoston (FBF:NYSE - news - commentary - research - analysis) was up 5.2% and Citigroup (C:NYSE - news - commentary - research - analysis) was up 3.3%. Among brokers, Lehman Brothers (LEH:NYSE - news - commentary - research - analysis) was up 6.1%, Merrill Lynch (MER:NYSE - news - commentary - research - analysis) was up 5.1%, Morgan Stanley Dean Witter (MWD:NYSE - news - commentary - research - analysis) was up 4.5% and Goldman Sachs (GS:NYSE - news - commentary - research - analysis) was up 3.2%. In contrast, while both groups were up on Friday on back of the positive ISM (formerly NAPM) numbers, they lagged behind the benchmark S&P 500, which added 25 points, or 2.3%, Friday. Monday, it rose a further 14 points to 1146. "The banks are way behind the market," says Seth Tobias of New York-based hedge fund Circle T. "You can't have the economy improving without credit quality getting better. These stocks have to rally." Credit concerns have hampered the bank stocks, particularly J.P. Morgan Chase, which has been hit hard by exposure to Enron -- and just about every other headline-making bankruptcy this year. As the economy improves, however, many businesses on the brink recover. Moreover, banks can feel more confident in extending credit -- and it is by extending credit that they make money. Hence the well-worn idea that financial stocks are among the earliest to rebound in a recovery