FX & CFD trading involves significant risk
Stocks opened today's trade with solid gains, but the tone of trade has since deteriorated.
Strong gains abroad and a pleasing quarterly report from banking bellwether JPMorgan Chase (JPM 46.29, -0.35) helped stocks push higher in early trade. However, shares of banks have buckled under pressure from sellers. Weakness among bank stocks has taken the financial sector down to a 0.8% loss.
Part of this session's change in sentiment stems from the failure of the S&P 500 to extend its opening gains through near-term resistance in the 1321-1322 zone.
As a reminder, the Fed's Beige Book will be released at 18:00 GMT.
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