Financial stocks were having a mixed session Tuesday as

Federal Reserve

Chairman Ben Bernanke and Treasury Secretary Henry Paulson took questions in Washington about the government's plan for stabilizing the markets and the economy.

The Amex Securities Broker/Dealer index was up 0.9%, while the NYSE Financial Sector index was off 0.1%. The KBW Bank index was down 1.3%.

Raymond James

(RJF) - Get Raymond James Financial, Inc. Report


Charles Schwab

(SCHW) - Get Charles Schwab Corporation Report

were both on the winning side and gaining more than 3%.


(JEF) - Get Jefferies Financial Group Inc. Report

was having an even better day, adding 4.7%.

Insurance company


(AIG) - Get American International Group, Inc. Report

rose nearly 9% after saying its board would suspend its quarterly common stock dividends.

TheStreet Recommends

As for the losers,

Merrill Lynch

( MER) was dropping 4%, and


(AMP) - Get Ameriprise Financial, Inc. Report

was weaker by 2.1%.


Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report

was little changed, and

Washington Mutual

(WM) - Get Waste Management, Inc. Report

edged down 1%.


(WB) - Get Weibo Corp Sponsored ADR Class A Report

was even weaker, surrendering 7%.

This article was written by a staff member of