Financials Roundup (C, BAC, JPM, GS, MS, XLF)

Following the performance of financial stocks has been a good barometer of the direction of the S&P 500. During today's trading session, the S&P has gained 0.61 points to 1,065, but financial stocks have been weak. The Financial Select Sector SPDR ETF XLF, which tracks the performance of a basket of financial stocks, has fallen 0.21% to $14.12. Hedge fund favorite Citigroup C is underperforming the market significantly during today's trading session, losing 1.45% to $3.73. Over 424 million C shares have traded hands thus far. Bank of America BAC, which is another name that some prominent hedge funds are betting on, is down 2.28% to $15.01. Year to date, BAC has lost 0.4%. The shares are trading at a forward P/E ratio of just 7.86. J.P. Morgan JPM is outperforming both C and BAC today, but has still fallen 0.40%. The stock is currently trading at $37.47. Volume has been light. Goldman Sachs GS, which has been under significant pressure since being slapped with SEC fraud charges, has lost 0.88% to $140.99. Over the last three months, GS has lost 15.71%. Morgan Stanley MS has shed 1.23% to $25.67. Year to date, the shares have lost 13.28% of their value. The weakness in the financial sector today is something that investors and traders should pay close attention to, as the sector has been a fairly reliable indicator of the direction of the broader market over the last few months.