), S&P 500 Index, and the NASDAQ Composite started the morning with a sharp gap higher open. However, all the major stock indexes faded from the open and traded near the flat level around the noon hour before rallying higher on light volume. However, while everything was declining intra-day the financial stocks actually traded higher. Many traders and investors are asking what was the reason for financial strength. Well, we must take into consideration that Portugal reportedly had a successful bond auction today. Whether it was the European Central Bank, International Monetary Fund, or the Federal Reserve Bank that bought the bonds it really does not matter. As a trader what matters is the action in the stock market. The action in the financial stocks is strong today. The second positive factor for the financial stocks is the steep yield curve that is occurring as yields on the 10 and 30 year T-Notes rise. Remember, the banks can charge more interest on loans and credit cards while they themselves borrow from the Federal Reserve at zero percent. Talk about having your cake and eating it too. The banks also barely pay any interest on an individual savings account. A steep yield curve certainly favors the banks. Financial stocks such as J.P. Morgan Chase & Co.(NYSE: