Here’s Why Financial Stocks are Flying Now

Merkel’s prediction of progress in Europe and the report on the U.S. employment situation gives financial stocks (NYSEARCA:XLF) a push early today. Morgan Stanley (NYSE:MS), recognized as having the greatest vulnerability to European debt issues, rises to second place among S&P winners.

Here’s how financial stocks are rallying now:

JPMorgan Chase & Co. (NYSE:JPM): JPM shares recently traded at $32.75, up $2.29, or 7.52%. They have traded in a 52-week range of $27.85 to $48.36. Volume today was 53,948,392 shares versus a 3-month average volume of 46,505,700 shares. The company’s trailing P/E is 6.98, while trailing earnings are $4.69 per share.

Morgan Stanley (NYSE:MS): MS shares recently traded at $15.45, up $0.94, or 6.48%. They have traded in a 52-week range of $11.58 to $31.04. Volume today was 30,027,694 shares versus a 3-month average volume of 35,374,700 shares. The company’s trailing P/E is 10.13, while trailing earnings are $1.53 per share.

The Goldman Sachs Group, Inc. (NYSE:GS): GS shares recently traded at $99.85, up $5.42, or 5.74%. They have traded in a 52-week range of $84.27 to $175.34. Volume today was 8,505,550 shares versus a 3-month average volume of 7,819,430 shares. The company’s trailing P/E is 15.19, while trailing earnings are $6.57 per share.

Bank of America Corporation (NYSE:BAC): BAC shares recently traded at $5.71, up $0.18, or 3.25%. They have traded in a 52-week range of $5.03 to $15.31. Volume today was 165,214,883 shares versus a 3-month average volume of 271,670,000 shares. The company’s trailing earnings are $-0.31 per share.

Citigroup, Inc. (NYSE:C): C shares recently traded at $28.24, up $1.25, or 4.63%. They have traded in a 52-week range of $21.40 to $51.50. Volume today was 36,924,052 shares versus a 3-month average volume of 56,541,000 shares. The company’s trailing P/E is 7.53, while trailing earnings are $3.75 per share.

Regions Financial Corp. (NYSE:RF): RF shares recently traded at $4.32, up $0.2, or 4.85%. They have traded in a 52-week range of $2.82 to $8.09. Volume today was 13,230,711 shares versus a 3-month average volume of 28,613,400 shares. The company’s trailing P/E is 24.83, while trailing earnings are $0.17 per share.

SunTrust Banks, Inc. (NYSE:STI): STI shares recently traded at $18.66, up $0.67, or 3.72%. They have traded in a 52-week range of $16.41 to $33.14. Volume today was 2,903,785 shares versus a 3-month average volume of 7,760,940 shares. The company’s trailing P/E is 17.72, while trailing earnings are $1.05 per share.

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