Financial Stocks Weak Again: FOMC Heads Up?
Yesterday, I touched on the financial stocks and their relative weakness as the market was rallying. Today again, the financial stocks are weaker than that market. Is this a false signal or a valid heads up of a market sell off on the FOMC comments at 2PM ET?
Goldman Sachs Group Inc (NYSE:GS) is trading at $162.90, -1.25 (-0.76%) while JPMorgan Chase & Co. (NYSE:JPM) is trading at $54.02, -0.09 (-0.17%).
If the Federal Reserve were to make love to the stock market by extending QE indefinitely, one would think the financial stocks would be leading the market instead of lagging. Let's see what happens at 2PM ET.