Update - Brokers Lower In Focus:MS, GS, IBKR

Published on Tuesday, 04 September 2012 11:55 Written by Christian Paolinetti

New York, September 4th (TradersHuddle.com) - The overall market is trading lower with the S&P 500 losing 0.52%. Stocks of Broker / Dealers are are also trading lower, with NYSE Broker/Dealer index trading at 80.875, which represents -0.4% from its previous close. 4 out of 10 components of the index are trading higher.

Morgan Stanley (NYSE:MS) is the index current top performer, trading at $15.26 representing 1.73%. 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 $14.96.

Goldman Sachs (NYSE:GS) is also among the top performers, trading at $106.73 representing 0.96% from its previous close. Goldman Sachs, the premier global investment banking and securities firm has calculated support and resistance levels at $96.72 and $107.34 respectively. The other top performer is Interactive Brokers (NASDAQ:IBKR), which is trading at $13.83 representing 0.07% from the previous trading session.

The index worst performers include Charles Schwab (NYSE:SCHW) that is trading at $13.28 or -1.59% from the previous close. Shares of Charles Schwab, the securities brokerage, banking, and other related financial services provider have defined support at $11.99 and resistance at $13.48. Also among the worst performers is E*TRADE (NASDAQ:ETFC), which is trading at $8.51 representing -0.76% from the previous trading session.