Sector Mid Day Update - Brokers Declining: AMP, AMTD, ETFC

Published on Thursday, 05 July 2012 11:55 Written by Gerard Lerod

New York, July 5th (TradersHuddle.com) - The overall market is trading lower with the S&P 500 losing 0.23%. Stocks of Broker / Dealers are are also trading lower, with NYSE Broker/Dealer index trading at 87.515, which represents -1.55% from its previous close. 2 out of 10 components of the index are trading higher.

Ameriprise (NYSE:AMP) is the index current top performer, trading at $52.34 representing 0.67%. versus the previous trading session. Shares of Ameriprise, the financial planning firm, have defined support at $48.78 and resistance at $52.60.

TD Ameritrade (NASDAQ:AMTD) is also among the top performers, trading at $17.05 representing 0.29% from its previous close. TD Ameritrade, the provider of online brokerage services for independent individual investors has calculated support and resistance levels at $18.05 and $19.53 respectively. The other top performer is E*TRADE (NASDAQ:ETFC), which is trading at $8.12 representing -0.25% from the previous trading session.

The index worst performers include Nomura (NYSE:NMR) that is trading at $3.61 or -3.48% from the previous close. Shares of Nomura, the global finanicial services company based in Tokyo, Japan have defined support at $3.39 and resistance at $3.59. Also among the worst performers is Morgan Stanley (NYSE:MS), which is trading at $14.81 representing -1.99% from the previous trading session.