Struggling Financials See Early Strength

One of the weakest groups, financials, is higher this morning. If it will last is another question. Some of the gains today could be related to short covering. Traders have been selling any strength in the sector.

Stocks: Citigroup (NYSE: C), Merrill Lynch (NYSE: MER), Countrywide Financial Corp. (NYSE: CFC), Wachovia Corp. (NYSE: WB), Bank of America Corporation (NYSE: BAC), The Bear Stearns Companies, Inc. (NYSE: BSC), Goldman Sachs Group Inc. (NYSE: GS), Washington Mutual Inc. (NYSE: WM).

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