U.S. banks stage a reversal from a mostly-down morning to spend the afternoon in positive territory; the Financial Select Sector SPDR ETF (XLF +0.4%) rose as much as 0.4% this afternoon, after falling as much as 0.9% this morning.
In broader markets, the S&P 500 and Nasdaq indexes also turn to gains in the afternoon, while the Dow Jones Industrial average stays in negative territory.
Wells Fargo (WFC +1.4%) is leading the big banks after a Morgan Stanley analyst upgraded the bank to equal-weight; Goldman Sachs (GS +1.1%) also gained more than 1% in the afternoon. Bank of America (BAC +0.2%), however, lags the group.
Previously: Weekend trade talk rattles markets (July 2)
Now read: Is It Time To Buy The Banks? »
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