Market Overview

Commodities Tumble, However, Banks Are Steady Eddie


Today the major stock indexes are trading just slightly lower on the session. The declines in the market come as gold, silver, copper and oil all selling off today. The one sector that is holding up very well is the beloved large financial stocks that are 'too be to fail'. Major financial stocks such as J.P. Morgan Chase & Co.(NYSE: JPM), Wells Fargo & Co.(NYSE: WFC), and Goldman Sachs Group Inc.(NYSE: GS) are all trading basically flat today. This tells us that the institutional money is still in the large financial stocks at this time. The financial stocks have been leading the markets higher since late November 2010. At this time the uptrend in the large major financial stocks remains intact.

Nicholas Santiago

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