Buzz & Banter
Yes, Virginia, there does appear to be an underlying bid to the market, and talk of Snapper making an appearance later today. But until they can get the financials in the green, expect Snapper to remain in his shell.
The Philadelphia Bank Index (BKX) has been the market's albatross since the middle of June. Since June 15 the BKX is actually down a little over 1% compared to the Dow's gain of 2.5%, the Nasdaq Composite's gain of 8.8% and the S&P 500 Equal Weighted Index's rise of better than 3%.
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