The stock market is trading in a tight range near its session high.
The financial sector continues to show strength (+2.4%), with 92% of its 88 components posting a gain. AIG (+2.02)
is the best-performing name after being upgraded to Buy from Neutral at
UBS. UBS believes that AIG is well positioned to absorb further losses
without the need for an equity raise.
Oil prices climb to just under the unchanged mark and then run
into some resistance, sending oil to a loss of 1.1% at $120.06 per
barrel. As a result, the energy sector (+0.8%) is underperforming on a relative basis.