European Financial Stocks Must Always Be On the Radar
This morning, the leading financial stocks in the United States markets are trading lower. This is usually a good indication that the major stock indexes will be lower as well. While that is the case this morning, it is also more important to follow the European financial stocks since this a European debt crisis. Leading European financial stocks such as Deutsche Bank AG (NYSE:DB), UBS AG (NYSE:UBS), and Credit Suisse Group AG (NYSE:CS) are all holding up exceptionally well considering the declines in the U.S. stock markets. This tells us that the markets in the U.S. could hold up today.
Leading financial stocks in the United States such as Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS), and J.P. Morgan Chase & Co (NYSE:JPM) might be painting a different picture, however, as long as this problem is being classified as a European banking crisis we must follow those European banks as the leaders of the market at this time. Remember, when trading it is usually best to keep it simple and follow the leaders.