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JPMorgan Chase: Financial Winners & Losers

Stocks in the financial sector recovered losses seen during the prior day's trading session as investors became more confident of the European markets.



) -- Stocks in the financial sector on Wednesday recovered losses seen during the prior day's trading session as investors became more confident of the

European markets


Bank stocks were for the most part in the black late in the trading session on Wednesday, remaining positive even after the release of the

Federal Reserve

's beige book, which said it expected slower economic growth across U.S. districts. The

Financial Select Sector SPDR

(XLF) - Get Financial Select Sector SPDR Fund Report

, an exchange traded fund tracking the financial services sector, chugged 1.4% higher in afternoon trading to $14.39.

Leading the pack were several large banks including

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report


Goldman Sachs

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



(BBT) - Get BB&T Corporation Report

as well as midsized regional banks like

Regions Financial

(RF) - Get Regions Financial Corporation Report



(KEY) - Get KeyCorp Report


Huntington Bancshares

(HBAN) - Get Huntington Bancshares Incorporated Report


H&R Block

(HRB) - Get H&R Block, Inc. Report

shares were 3.3% higher, to $12.77, despite being

downgraded by Oppenheimer

to perform from outperform. The stock hit a 52-week-low of $11.98 fresh out of the gate this morning, but rebounded with strong trading volume as the day went on of about 6.6 million shares.

Financial sector losers included shares of the electronic payment firms.

Visa (V) - Get Visa Inc. Class A Report

fell 3.8% to $68.68 on strong trading volume of roughly 8 million shares after being downgraded by Bank of America Merrill Lynch to underperform from neutral.

The analysts apparently have growing concerns about the effect of debit regulation under the new financial reform measures as well as structural concerns regarding the world's largest payments firm.


(MA) - Get Mastercard Incorporated Class A Report

shares were also falling about 2.4% to $195.68, coming close to its 52-week-low share price of $193, hit on July 20.

--Written by Laurie Kulikowski in New York.

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Laurie Kulikowski


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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.