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Financial Stocks Lead The Rally



May 10, 2012 – Comments (0) | RELATED TICKERS: JPM , CS , C

This morning, all of the leading financial stocks are catching a bid higher. This is the first real bounce for this important sector in about a week. The most important financial stock in the market is J.P. Morgan Chase & Co (NYSE:JPM). This leading financial stock is is trading higher by 0.68 cents to $41.30 a share. Short term traders should watch for intra-day resistance around the $41.50, and $42.00 levels.

Some of the other leading financial stocks that are inflating higher today include Citigroup Inc (NYSE:C), Wells Fargo & Co (NYSE:WFC), and Credit Suisse Group (NYSE:CS). Usually, the major stock indexes will hold up when the financial stocks are strong. The financial sector accounts for roughly 14.0 percent of the S&P 500 Index.

Nicholas Santiago

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