The Stock List: Traders Start Week in Buying Mood as Citi, JP Morgan Gain
Buyers continued to flock toward the financials, starting off a new trading week by sending a number of bank stocks higher for a second day. Gaining nearly 7% below the 200-day moving average on Monday were top of the line financial stocks like ^C^ and ^JPM^.
Oil stocks were under pressure early, but traders turned those markets around, as well. Finishing in the green after closing lower for six days in a row were oil shares such as ^NOV^ and ^SLB^.
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Among the companies scheduled to report quarterly earnings on Tuesday are ^WAG^ and ^JBL^. Both stocks have been trading below their 200-day moving averages since early August.
Here are 7 Stocks You Need to Know for Tuesday.
As noted above, buyers were especially aggressive in the financial market. In addition to major gains in bank stocks like Citigroup and JP Morgan, stocks like ^MS^ gained more than 6%, and shares of ^USB^ finished Monday up by nearly 5%.
What’s down on an up day? Shares of ^MA^ managed to rally off their worst levels, but still closed down on the day, marking the stock’s third down session out of the past four. Up more than 4% and nearly overbought territory below the 200-day are shares of ^COF^.
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Is the selling done in ^FCX^. Trading below its 200-day moving average since early August and recently dropping for five consecutive sessions, FCX closed higher for a second day ahead of trading on Tuesday.
Shares of ^AMZN^ rallied into strength above the 5-day moving average on Monday, gaining more than 2% after a pullback that took the stock to the edge of oversold territory above the 200-day moving average.
Also rallying from a brush with oversold territory above the 200-day moving average are shares of ^PEET^. PEET has closed higher for three days in a row, and was up more than 2% ahead of trading on Tuesday.
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David Penn is Editor in Chief of TradingMarkets.com