Financial stocks were pacing the Dow Jones Industrial Average’s DJIA premarket gainers, as tame inflation data helped distract investors from the banking sectors recent troubles. Shares of American Express Co. AXP climbed 3.8% ahead of the open, Goldman Sachs Group Inc. GS gained 3.2% and J.P. Morgan Chase & Co. JPM rallied 2.9%. The implied price gains would add a total of about 130 points to the Dow’s price, while Dow futuresYM00 advanced 296 points, or 0.9%. That’s in stark contrast to their performance on Monday, when the price declines of those three stocks cut the Dow’s price by 149 points, while the Dow fell 90.50 points, or 0.3%. The rest of the banking sector was seeing a broad bounce, as the SPDR S&P Regional Banking exchange-traded fund KRE ran up 9.2% in premarket trading Tuesday and the SPDR S&P Bank ETF KBE climbed 7.0%.
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