Financial Select Sector SPDR ETF (XLF) - NYSEARCA
  • Sep. 2, 2011, 9:37 AM

    Financials limp out of the gate, with weak jobs data piling on already bad news: a federal agency is set to sue big banks over misrepresenting the quality of mortgage securities, and the Fed asks BofA (BAC -7.7%) to show contingencies if conditions get worse for the bank. JPM -4.1%, C -5.6%. Financials SPDR (XLF -3%) has dropped more than 14% in three months.

    | Sep. 2, 2011, 9:37 AM | 8 Comments
  • Sep. 2, 2011, 3:16 AM

    The FHFA could today file lawsuits accusing over a dozen large banks, including BAC, JPM, GS and DB, of misrepresenting the quality of MBS they sold to the GSEs during the housing bubble, sources say. Fannie and Freddie - and ultimately taxpayers - lost more than $30B as a result of the deals.

    | Sep. 2, 2011, 3:16 AM | 7 Comments
  • Aug. 30, 2011, 1:18 PM

    Financial stocks, a primary driver of yesterday's bounce, are laggards today as investors take profits from insurers (KIE -1.1%) after their big rally: ALL -1.2%, HIG -1.5%. Among banks (XLF -1%), Bank of America (BAC -3%) weighs on the sector after reports of FDIC opposition to the mortgage settlement deal. Also: JPM -1.5%, C -1.4%, GS -1.2%, MS -1%.

    | Aug. 30, 2011, 1:18 PM
  • Aug. 29, 2011, 3:13 PM
    It's not just the mega financial names like BofA (BAC +6.6%) and Citigroup (C +4.1%) moving higher today after a decent day for European and economic news, a whole slew of brokerage firms and investment banking companies are joining the party. Strong gainers include: PJC +8.11%, JEF +6.9%, KBW +5.9%, RODM +5.4%.
    | Aug. 29, 2011, 3:13 PM | 1 Comment
  • Aug. 29, 2011, 1:24 PM

    All 10 major S&P sectors are up by 1% or more, but financials (XLF +3.5%) are spiking following bank beatdowns of recent weeks and a bid for insurers (KIE +5.3%) after Irene's damage appears less severe than feared. Bank of America (BAC +6%) rallies (earlier) even after at least two firms lower price targets. Also: JPM +2.9%, WFC +2.9%, C +3.8%, MS +3.8%.

    | Aug. 29, 2011, 1:24 PM | 1 Comment
  • Aug. 24, 2011, 10:03 AM
    If you want to pick a bottom in the brutal bear market in big financial shares (of which BAC has been the leader), you could do worse than the minute Bank of America issued its downgrade of the sector. You can't make this stuff up.
    | Aug. 24, 2011, 10:03 AM | 2 Comments
  • Aug. 24, 2011, 9:56 AM

    Bank of America lowers forecasts and price targets for the too-big-to-fail bank stocks, citing "magnified seasonal decline due to heightened volatility, which has been particularly difficult to manage following S&P U.S. debt downgrade." Banks (XLF +2%) moving higher in early trade: BAC +8.2%, JPM +2.3%, C +3.2%, GS +2.2%, MS +2.3%.

    | Aug. 24, 2011, 9:56 AM
  • Aug. 22, 2011, 11:23 AM
    The slide in Bank of America (BAC -6.1%) continues, now trading at $6.55. Low print in this bear market: $6.31. Low close: $6.51. Other banking shares have given up sharp early gains, but remain slightly higher to moderately lower. XLF -0.1%.
    | Aug. 22, 2011, 11:23 AM | 1 Comment
  • Aug. 22, 2011, 10:09 AM
    Bank of America (BAC -1.6%) turns red after opening 3% higher. The stock is now at $6.86 - the low close during this month's sell-off is $6.51. The XLF is clinging to gains, +0.7%.
    | Aug. 22, 2011, 10:09 AM
  • Aug. 19, 2011, 4:27 PM
    According to Bespoke, the S&P 500's trailing P/E has fallen over 3 points since 4/29, to 12.44. While the financial sector has the lowest P/E (10.62), multiples for the healthcare (11.23) and tech (12.79) sectors are also near 18-year lows. The telecom sector (17.50) stands alone in having a trailing P/E above 15.
    | Aug. 19, 2011, 4:27 PM | 1 Comment
  • Aug. 19, 2011, 10:35 AM
    Stock indexes all turn positive, including the Dow, which had been anchored lower by Hewlett-Packard's (HPQ -20.6%) dismal day: Dow +11, S&P +6.5, Nasdaq +22.5. Sector strength is noted in energy (XLE +0.8%), as the dollar index slumps and crude perks up; financials (XLF +0.2%), materials (XLB +0.9%) and consumer discretionaries (XLY +1%) also bounce back.
    | Aug. 19, 2011, 10:35 AM
  • Aug. 18, 2011, 10:23 AM
    Following Europe, financial stocks (XLF -5.1%) are in dismal shape, as shares of everything from big banks - BAC -7.6%, C -9.3%, JPM -4.9%, WFC -4.7% - to regionals (KRE -4.8%) slump; the regional index hits a 21-month low. European banks plunge: BCS -10.7%, RBS -11.4%, HBC -6.5%.
    | Aug. 18, 2011, 10:23 AM
  • Aug. 18, 2011, 9:13 AM

    In conjunction with their European counterparts, American banking shares are sharply lower premarket. XLF -3.2%BAC -5.1%, C -4.8%, WFC -3.1%, JPM -3.3%, Regions Financial RF -4.2%.

    | Aug. 18, 2011, 9:13 AM
  • Aug. 16, 2011, 4:43 PM

    File under too big to stay quiet: The FDIC has finally returned to the black (just barely) after a 3-year wave of bank failures, but bankers aren't wasting time clamoring for rebates on the prepaid premiums they paid to keep the BIF solvent during the financial crisis. Regulators say they would like to keep a safe cushion in the fund, even as banks claim hardship.

    | Aug. 16, 2011, 4:43 PM | 1 Comment
  • Aug. 16, 2011, 2:57 PM

    Banks (XLF -2.4%) are the day's worst-performing sector, as they continue their one-day-up, next-day-down dance. Some of today's drop likely stems from disappointment about a resolution to Europe’s problems, but banks were falling even before Merkel and Sarkozy’s lame press conference. BAC -5.3%, C -6%, JPM -2.7%, WFC -2.2%, MS -5.3%.

    | Aug. 16, 2011, 2:57 PM | 2 Comments
  • Aug. 15, 2011, 5:15 PM
    Financial stocks recouped some of their early-August losses today. Bank of America (BAC +7.9%) headlined the winners, thanks to its credit card business sale and positive news regarding its Countrywide lawsuits, but other big names also got a lift. MS +6.1%. AIG +6%. C +4.8%. WFC +3.7%. STI +5.9%. USB +3.7%.
    | Aug. 15, 2011, 5:15 PM
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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