Anthony Scaramucci said on CNBC's Fast Money that there is a correlation between S&P 500 and Financial Select Sector SPDR (
ETF) (NYSE:
XLF). He believes that uncertainty regarding financial regulation is a reason for this correlation.
Scaramucci added that correlation won't end before two issues are resolved. The first issue is a fraud charge against Goldman Sachs (NYSE:
GS), and the second issue is the impact of the financial regulation.
Joe Terranova thinks that in this environment only Goldman Sachs (
GS), Morgan Stanley (
MS) and trusts banks like Northern Trust Corporation (NASDAQ:
NTRS) are making money.
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