Financials Make Gains Ahead of Bernanke Speech; JPMorgan Leads (XLF)

Financials are doing a bit of an early morning jig Tuesday ahead of a speech from Fed Chair Ben Bernanke -- a speech which might include comments on further monetary easing.

QE2, a $600 billion bond-buying program, is scheduled to wind down this month, and many expect further quantitative easing following disparaging economic data over the last few weeks. While some pundits suggest the Fed will offer some kind of new program, some monetary policy is also expected, aiming to curb inflation.

Still, following several straight sessions of declines, investors are peckish for a little financial risk. The Financial Select Sector SPDR (NYSE: XLF) is up 0.9 percent this morning.

Financial stocks making a move include:

• JP Morgan Chase & Co. (NYSE: JPM), up 1.6 percent;
  
  
• Bank of America Corp. (NYSE: BAC) 1.6 percent better;
  
  
• Goldman Sachs (NYSE: GS) 0.7 percent higher;
  
  
• Wells Fargo & Co. (NYSE: WFC), up 0.5 percent; and
  
  
• Citigroup (NYSE: C), which is 0.8 percent stronger.

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