Financial Select Sector SPDR ETF (XLF) - NYSEARCA
  • Dec. 15, 2011, 2:36 PM

    Credit Suisse (CS +3%) outpaces other bank stocks (XLF +0.5%) on announcing a sweeping reorganization of its foreign exchange business, including the departure of its head of forex sales. The bank's emerging markets business, which has so far encompassed both debt and currencies, will combine with its forex business in next year's Q1.

    | Dec. 15, 2011, 2:36 PM
  • Dec. 15, 2011, 3:20 AM
    A new study suggests European banks will need to raise nearly €200B in new capital, or cut their balance sheets by nearly 20%, in order to meet Basel III requirements that start taking effect in 2013. With credit markets increasingly tight, this will be no small feat. (U.S. and Asia banks face a collective shortfall of less than €70B.)
    | Dec. 15, 2011, 3:20 AM | 3 Comments
  • Dec. 12, 2011, 11:59 AM

    Rumors circulate that Jefferies' (JEF -1.9%) workforce has been cut by 11%, but shares are outpacing other banks (XLF -3%) as CreditSights says JEF is considering increasing its level of disclosures made through its financial reports to address concerns about exposure to riskier credits. CreditSights echoes Fitch in saying JEF should be able to weather recent problems.

    | Dec. 12, 2011, 11:59 AM
  • Dec. 8, 2011, 4:00 PM
    Bank stocks (XLF -3.8%) sink to session lows after Germany rejects giving the ESM a banking license: BAC -5.3%, C -6.9%, GS -4.9%, JPM -5.2%, MS -8.4%.
    | Dec. 8, 2011, 4:00 PM
  • Dec. 8, 2011, 10:25 AM
    Financials (XLF -2.5%) are suffering the most in early trading, in a steep slide that comes after the sector scored an outsized gain of 1.2% yesterday. Investors are ignoring the better-than-expected U.S. jobless claims report and focusing on the latest disappointment from Europe. Among big banks: BAC -2.7%, JPM -2.8%, C -4.8%, GS -2.3%, WFC -1.9%, MS -5.1%.
    | Dec. 8, 2011, 10:25 AM | 2 Comments
  • Dec. 6, 2011, 3:15 PM

    California and Nevada join forces to investigate foreclosure fraud and other questionable mortgage practices. The move is another blow to administration efforts to sweep this thing away with a quickie national settlement. Earlier, California AG Harris had dropped out of those efforts, joining NY AG Schneiderman, among others.

    | Dec. 6, 2011, 3:15 PM | 1 Comment
  • Dec. 6, 2011, 10:45 AM
    Bank stocks (XLF -0.2%), so resilient yesterday despite the S&P mass downgrade threat, are struggling today. Oddly, JPMorgan Chase (JPM -1.2%), widely considered the strongest U.S. bank, is down while Bank of America (BAC +1.2%) is up. Regional banks are especially shaky: STI -4.3%, RF -2.9%. Mark Gongloff suspects today's moves are a "natural cool-down" after yesterday.
    | Dec. 6, 2011, 10:45 AM | 4 Comments
  • Dec. 6, 2011, 8:29 AM
    Portfolio manager Vincent Fiorillo, an experienced hand in the area of MBS investment, believes it will cost at least $100B to clean up mortgage litigation, far higher than the $25B bandied about in settlement talks with state AGs. A figure that high would allow necessary loan modifications as well as paying back investors who lost money on questionable securities.
    | Dec. 6, 2011, 8:29 AM | 1 Comment
  • Dec. 5, 2011, 3:59 PM
    Financial stocks (XLF +1.7%) have withstood the S&P downgrade reports and a Wells Fargo report slashing Q4 industry EPS estimates in good shape and are still today’s best performing sector. Morgan Stanley (MS +6.8%), often a poster child for eurozone exposure worries, seems to be building strength through the day; C +5.7%, JPM +3.6%, BAC +2.4%.
    | Dec. 5, 2011, 3:59 PM
  • Dec. 5, 2011, 10:01 AM

    Financial stocks (XLF +2.5%) lead today's early advance, with Bank of America (BAC +4.2%), Citigroup (C +6.4%) and JPMorgan Chase (JPM +5.1%) leading the effort. In contrast, defensive-oriented consumer staples lag the broader market, as the likes of Procter & Gamble (PG +0.2%) and Kraft (KFT +0.1%) display only limited strength.

    | Dec. 5, 2011, 10:01 AM | 1 Comment
  • Dec. 2, 2011, 11:15 AM

    Financial stocks (XLF +2.1%) are enjoying a rocket-fueled boost this morning from the U.S. jobs  report and Merkel's speech predicting progress in Europe. Morgan Stanley (MS +8.7%), perceived to have the most exposure to European debt problems, soars to second place among S&P gainers. Also: BAC +4.2%, JPM +6.8%, C +5.6%.

    | Dec. 2, 2011, 11:15 AM
  • Nov. 30, 2011, 9:46 AM
    Bank stocks (XLF +3.7%) jump out of the starting gate after the central bank liquidity push, shrugging off the S&P downgrades: JPM +5.4%, MS +5.9%, C +5.3%.  Bank of America (BAC +5.3%) looks to avoid collapsing through $5, at least for another day - it's a line in the sand, not because it’s a round number, but because many fund managers will be forced to sell if it closes below that mark.
    | Nov. 30, 2011, 9:46 AM | 4 Comments
  • Nov. 29, 2011, 3:21 PM

    Just as U.S. banks are trying to aggressively cut their eurozone exposure, foreign banks are doing the same for their U.S. exposure. Deutsche considers this a positive for U.S. banks, to the extent it allows them to acquire assets (I, II) at reasonable prices. Banco Santander (STD) still holds $56B in U.S. loans; Banco Bilbao (BBVA) $45B; and Deutsche Bank (DB) $32B.

    | Nov. 29, 2011, 3:21 PM
  • Nov. 29, 2011, 11:34 AM
    Nouriel hits the FT, calling for Italy's debt to be restructured as public debt of 120% of GDP, real rates of 5%, and zero GDP growth add up to a toxic mix. Mario Monti may do a better job than Berlusconi, but he has no ability to alter the laws of math. Contrarian alert: Wasn't Roubini calling for U.S. bank nationalizations in 2009 shortly before the XLF nearly tripled?
    | Nov. 29, 2011, 11:34 AM | 1 Comment
  • Nov. 28, 2011, 12:35 PM

    Morgan Stanley cuts its outlook and price targets on big U.S. banks, citing economic concerns in the U.S. and Europe. Most notably, it cuts Citigroup (C +5.8%) to Equal Weight from Overweight and trims its price target to $30 from $45. Cut to Underweight: STT +1.7%, BK +1.4%, NTRS +1.4%. But for today at least, bank stocks (XLF +3%) are rallying.

    | Nov. 28, 2011, 12:35 PM | 2 Comments
  • Nov. 28, 2011, 8:18 AM
    Long and wrong on the financials in 2011, Dick Bove pens a letter discussing his mistakes. Turns out he didn't make many, it's just that investors have yet to see the light. He remains wildly bullish on the big banks. Wall Street's a big industry, are there any other bank analysts?
    | Nov. 28, 2011, 8:18 AM | 3 Comments
XLF Description
The Financial Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Financial Select Sector Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Sector: Financial
Country: United States
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