MIDDAY LUNCH

Dow 10531.52  +68.75, Nasdaq 2278.35  +35.84, S&P 1120.88  +11.33 

Gains in the market have come off the session highs and are finding support around the 1,120 level. 

Stocks started the day off higher after estimates for the Eurozone GDP growth were almost doubled to +1.7% on strength in Germany’s economy.  Additionally, stocks got a boost from Basel III after the new funding requirements for banks were not as restrictive and some analysts had anticipated.

All 24 companies in the KBW Bank Index are in positive territory. The KBW index is up +3.1% to a one-month high and above its 50-day moving average, but shy of its 200-day moving average.

In trading today, all ten major sectors are trading higher led by Basic Materials up +1.69% and Financials up +1.54%.