By Gareth Soloway on June 16th, 2010 12:12pm Eastern Time
Yesterday, the financial rally helped push this market up over 2% on the day. I had given my premium subscribers that tidbit of knowledge to expect that. Sure enough it happened. Today, with commodity stocks weaker, financial stocks are again taking the lead. Stocks like Goldman Sachs Group, Inc. (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) are higher on the day as the markets hover around he flat line. This is particularly impressive considering the news out of Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) of delisting. To see all the other financial stocks ignoring the Freddie and Fannie news is bullish for the markets.
BP plc (NYSE:BP) has just shot higher minutes ago on a report coming out that they have agreed to put 20 billion in an escrow account for claims. It was down sharply earlier but just moved to the positive side briefly, now hovering flat. To get more profitable calls, insight, guidance, education, join the Research Center.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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