Early Update – More Short Covering in Banks

11:53 a.m. ET This morning has been a bit fluid with an early defensive bias, which is still there to some degree, but the main dynamic is continued gains/short covering in the bank stocks. The major averages are holding consistent price percent moves of +0.4% to +0.5% across the board. SP-500 +0.4%, Dow +0.5% (Transports…