Markets Are Falling Monday -- But These 5 Stocks Are Looking Up

The stock market moved sharply lower on Monday morning, as market participants reacted negatively to news from around the world of a new mutation of the coronavirus that has prompted another round of lockdowns and travel restrictions in Europe. Progress in Washington on a potential stimulus package for Americans seems to be going forward, though, and by 11:30 a.m. EST, major market benchmarks were well off their lows of the day. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down 163 points to 30,016, while the S&P 500 (SNPINDEX: ^GSPC) fell 44 points to 3,665 and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 121 points to 12,634.

Even in the market slump, there was a group of stocks that did extremely well. The banking sector got an important piece of news that helped send shares of Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), and other big banks sharply higher. Moreover, the impact could last a lot longer than a single day.

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Source Fool.com