Financial Stocks Slide Early
This morning, most of the leading financial stocks are coming under some early selling pressure. The Financial Select SPDR ETF (NYSE:XLF) is trading lower by 0.08 cents to $13.08 a share. Traders can watch for some intra-day support around the $12.90, and $12.70 levels. The daily chart of the XLF is also due for a pullback or some consolidation after surging higher by more than 10.0 percent over the past week.
Some of the leading financial stocks that are trading lower today include J.P. Morgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C), Blackrock Inc (NYSE:BLK), and Morgan Stanley (NYSE:MS). The stocks in this sector look to be trading very close together at this time. Most often, these stocks will trade along with the XLF intra-day.