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NYSE Trader: Why the Rotation Into Financials Stocks Has Legs

Morgan Stanley shares moved higher Tuesday after reporting better than expected rally, helping to cement the rotation into financials stocks.
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Morgan Stanley (MS) - Get Morgan Stanley (MS) Report shares moved higher Tuesday after reporting better than expected rally, helping to cement the rotation into financials stocks.

"I think the financials are still where you're going to find your home," said Matthew Cheslock, an equity trader at Virtu Financial, based on the floor of the New York Stock Exchange. 

Financials stocks in the S&P 500 are down 1.6% since the start of the year. 

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