Market Wrap-Up for Nov.22 (GS, MS, JPM, BBY, WYNN, more)

Investors came into this morning’s session expecting the markets to react positively to news of a financial bailout for Ireland. Instead, the markets spent most of the day in the red, with some buying in high-beta names to help push stocks to a respectable close. We really hadn’t yet seen a sell-off occur from any economic fears directly tied to Ireland’s situation, so it was a bit odd to me that economic watchers were expecting a positive reaction to the U.S. markets this morning. Sometimes I wonder what market watchers are seeing when it comes to the constant need to cheer-lead the averages higher. The sooner we get back to fundamentals themselves driving stock prices higher, the better off the market will be for the long term. Looking at the culprits pulling the averages lower today, look no further than the financials. Part of the worries are due to an FBI investigation that may tie some big-name Wall Street firms and hedge funds to institutional insider trading charges. Without knowing anything further, it would not make much sense to speculate who the key players could be that are involved and what exactly would be the penalties. There was decent selling in names like Goldman Sachs ( GS ), Morgan Stanley ( MS ) and JP Morgan ( JPM ). Buying in stocks like Best Buy ( BBY ) and Wynn Resorts ( WYNN ) helped lift the averages off the lows of the day. I hope everyone had a great weekend, and be sure to check out the latest members-only Premium articles you may have missed from last week. Also, don’t forget to check out new Investing Videos section. If you’re newer to our site, you’ll also want to view our “How to Use Our ‘Best Dividend Stocks’ List” video . And as always, check out our industry-leading Best Dividend Stocks list for the top dividend names to put money into right now. Thanks for reading, and I’ll see you tomorrow! Be sure to visit our

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Market Wrap-Up for Nov.22 (GS, MS, JPM, BBY, WYNN, more)

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