Last Updated: February 26th, 2009: 12:02 PM ET--- Despite a trio of disappointing economic reports, the major US equity indices are trading with moderate gains, although off session highs, as the financial sector leads the rally. Financials continue to lead the market higher, up 3.8%, large banks like Royal Bank of Scotland (NYSE:RBS), JP Morgan (NYSE:JPM) and UBS (NYSE:UBS) leading the way following a swath of good news. UBS (NYSE:UBS) shares are up more than 14% on news that the Swiss bank was bringing in former Credit Suisse turnaround banker, Oswald Gruebel to run the company. Royal Bank of Scotland (NYSE:RBS) is up 26.7% after reporting a less than expected $34 billion loss. JP Morgan (NYSE:JPM), up 9.5%, is leading the Dow higher after the company said it sees net savings of almost $2 billion during 2009 from job cuts and WaMu acquisition. The Dow Jones Industrial Average is up 0.9% to 7,333, the Nasdaq is up 0.4% to 1,431 and the S&P 500 is up 0.9% to 772.

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