Market news
08.12.2010, 18:08

Dow -1.36 at 11357.72, Nasdaq +7.11 at 2605.59, S&P +1.82 at 1225.60

Financials have sprinted ahead to a 1.3% gain, which puts the sector at a session high while the broader market has mustered only a modest gain. Insurers Lincoln National (LNC 27.24, +1.90) and MetLife (MET 42.90, +1.73) are primary leaders among financial plays. Not to be outdone, regional banks are broadly positive, such that the SPDR regional bank ETF (KRE 24.68, +0.51) is up more than 2% to test its one-month high. As an aside, banking issue U.S. Bancorp (USB 24.85, +0.48) stated this morning at the Goldman Sachs Financial Service Conference that it will continue to be an acquirer and that dividends and share buybacks will start again very shortly.

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