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 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 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 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 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 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 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 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 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 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.