Banks, Commodities: 'Boy, Do They Move!'
Banks and commodities stocks, which are now stock market bellwethers, were trading higher in London Tuesday morning, as stocks reversed Monday's selloff, with investors hoping better times were ahead.
Xstrata and HSBC topped the FTSE 100, rising more than 3 percent. Rio Tinto and Standard Chartered were also in the top 10 gainers.
Financials and commodities stocks will remain indicators of how the stock markets will fare for a while, because investors expect commodities to predict how the economy will evolve, Elissa Bayer, investment manager at Charles Stanley, told CNBC.
Financials are also good forecasters for where markets will go because they are the ones who started the crisis so people expect recovery to come from them, she added.
"When you see the good days, they're the ones going to move. But boy do they move!" Bayer told "Squawk Box" in London.