CHICAGO, Sept. 28, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "inthemoneystocks".
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JPMorgan Chase Is Still the Stock Market Barometer
If you want to know what the stock market is doing just follow J.P. Morgan Chase & Co (NYSE: JPM). This stock is the leading financial company in the United States and possibly the entire world, therefore, it will generally lead the major stock indexes. At this time, there is a banking crisis going on around the world. Sure, the European banks might be where all of the recent focus is, however, all of these banks have some exposure to European debt and that is why these bailouts are being talked about or tried by the central banks.
JPM stock has staged a sharp three day rally and so has the major stock market indexes. If JPM stock begins to slide this short term rally could end as quickly as it began.
Other financial stocks that are trading higher today include Goldman Sachs Group Inc (NYSE: GS), Deutsche Bank AG (NYSE: DB) and Credit Suisse Group (NYSE: CS). All of these stocks are very important and should be followed, however, JPM stock is certainly the most important and a stock market barometer.
About the Zacks Community
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