S&P Financial Sector Update 6/10/11

The Financial Sector has been the weakest performing area of the market in today's trading session, currently 1.5% lower on the day.

The worst performing stocks in the S&P Financial Sector currently are:

1) Genworth Financial (NYSE: GNW): Shares of Genworth are currently trading down 3.9% from yesterday's close to $10.06. Shares of Genworth hit a 52-week low of $10.04 in today's session. Shares of Genworth have lost 19.1% since the beginning of May.

2) CB Richard Ellis Group (NYSE: CBG): Shares of CB Richard Ellis Group are currently trading down 3.7% from yesterday's close to $24.40. The stock has lost 9.4% over the past ten trading sessions. Shares may be looking to test their 200-day simple moving average (one year daily chart), which is currently sitting at $22.56.

3) E*Trade Financial (NASDAQ: ETFC): Shares of E*Trade Financial are currently trading down 3.4% from yesterday's close to $13.79. The stock has lost 12.3% over the past ten trading sessions. E*Trade's 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a major bearish indicator known as the “Death Cross.”

4) Huntington Bancshares (NASDAQ: HBAN): Shares of Huntington Bancshares are currently trading down 3.1% from yesterday's close to $6.11. The stock has lost 20.8% since hitting a 52-week high of $7.70 on February 15th. Huntington's 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a major bearish indicator known as the “Death Cross.”

5) Zions Bancorporation (NASDAQ: ZION): Shares of Zions Bancorporation are currently trading down 3.2% from yesterday's close to $21.49. The stock has lost 9.5% over the past ten trading sessions.

Strength in the sector: The following financial stocks are performing well despite the negative market sentiment:

1) American International Group (NYSE: AIG): Shares of American International Group are currently trading up 1.1% from yesterday's close to $28.41. The stock has found strong support at the $27 level. Shares shrugged off early losses to move into positive territory in today's action.

2) CME Group (NASDAQ: CME): Shares of CME Group are currently trading up 1% from yesterday's close to $268.96. The stock was upgraded from Neutral to Buy at UBS. Shares have lost 10% since the beginning of May.

3) Federated Investors (NYSE: FII): Shares of Federated Investors are currently trading up 0.9% from yesterday's close to $24.43. The stock has found strong support around the $24 level. Shares shrugged off early losses to move into positive territory in today's action.

4) People's United Financial (NASDAQ: PBCT): Shares of People's United Financial are currently trading up 0.2% from yesterday's close to $12.72. The stock recently broke below its 200-day simple moving average (one year daily chart), but appears to have significant support at the $12.50 level.