Sector Mid Day Update - Brokers Declining: MS, NMR, RJF

Published on Thursday, 30 August 2012 11:55 Written by Christian Paolinetti

New York, August 30th (TradersHuddle.com) - The overall market is trading lower with the S&P 500 losing 0.69%. Stocks of Broker / Dealers are are also trading lower, with NYSE Broker/Dealer index trading at 79.876, which represents -1.32% from its previous close. 2 out of 10 components of the index are trading higher.

Morgan Stanley (NYSE:MS) is the index current top performer, trading at $14.81 representing 1.44%. versus the previous trading session. Shares of Morgan Stanley, the operator of a global securities business, have defined support at $14.18 and resistance at $15.34.

Nomura (NYSE:NMR) is also among the top performers, trading at $3.39 representing 0.3% from its previous close. Nomura, the global finanicial services company based in Tokyo, Japan has calculated support and resistance levels at $3.36 and $3.67 respectively. The other top performer is Raymond James (NYSE:RJF), which is trading at $34.86 representing -0.14% from the previous trading session.

The index worst performers include E*TRADE (NASDAQ:ETFC) that is trading at $8.4 or -2.55% from the previous close. Shares of E*TRADE, the online brokerage and financial services provider for individual retail investors have defined support at $8.26 and resistance at $8.88. Also among the worst performers is Goldman Sachs (NYSE:GS), which is trading at $104.36 representing -1.11% from the previous trading session.