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Financial Select Sector SPDR ETF (XLF)

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  • Apr. 3, 2013, 3:02 PM
    The S&P and DJIA may have just hit new all-time highs, but the Health Care (XLV), Consumer Staples (XLP) and Discretionary (XLY) sectors left their records in the dust some time ago. Technology (XLK) and Financials (XLF) are the two biggest sectors and it could be years, if not decades before they put in new records.
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  • Apr. 3, 2013, 10:23 AM
    Bonds bounce. The near-continuous calls for a bear market in Treasurys are dashed again for the time being, with the 10-year yield - after a quick surge higher to start 2013 - back to 1.84%, not far from where it started the year. Today's buying comes as ADP and ISM reports disappoint, and the banking sector (XLF -0.9%) gets a bit wobbly. TLT +0.6% today, -2.1% YTD.
  • Apr. 1, 2013, 10:06 AM
    Each time a PNC customer deposits a check by snapping its picture on a smartphone, it saves the bank $3.88 compared to going to a teller window, says President William Demchak. Underway and gaining steam is the trend of banks nationwide closing branches and/or shrinking their size.
  • Mar. 27, 2013, 11:08 AM
    Stocks more than halve early losses 90 minutes into the session, SPY -0.4% an QQQ -0.3%. The financial sector (XLF -0.6%) is lit up red - not surprising given Europe's shuddering banking system. Google and Apple - each down more than 1% - lead tech lower.
  • Mar. 20, 2013, 3:17 PM
    Bernanke press conference: Banks can not only handle a sustained increase in interest rates, but should thrive, he says, as higher rates mean increased net interest margins and a higher franchise value. Suggestion for a follow-up: What if it's short-term rates which increase?
  • Mar. 18, 2013, 10:12 AM
    Some green enters the screen a half hour after a big down open, with Apple and Hewlett-Packard (after an upgrade) notably higher. Not surprisingly banks are feeling the brunt of what's left of the EU bank-induced selloff, the XLF -1.4%. SPY -0.8%, DIA -0.4%, QQQ -0.6%. Europe's about 1% off the lows, the Stoxx 50 (FEZ) -1.5%.
  • Mar. 15, 2013, 10:11 AM
    Financial Select Sector SPDR ETF (XLF) announces quarterly distribution of $0.0619. 30-day SEC yield of 1.47% (as of 03/14/2013). For shareholders of record Mar. 19. Payable Mar. 25. Ex-div date Mar. 15.
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  • Mar. 14, 2013, 5:14 PM
    After hours movers in the banks: JPM -2.5% and GS -2.1% after the two had their capital proposals approved but were asked to submit new plans "to address weakness in their capital planning processes." WFC +0.4%, BAC +3.8% after no dividend hike, but a whopping $10.5B in share repurchases and redemption of high-yielding preferreds. Morgan Stanley +0.9%. The XLF +0.1%.
  • Mar. 8, 2013, 2:59 PM
    A check of sector performance YTD finds financials (XLF), consumer discretionary (XLY), healthcare (XLV), consumer staples (XLP), energy (XLE), and industrials (XLI) all ahead of SPY's 9% gain. Utilities (XLU) are lagging just a bit, but the biggest drag is tech (XLK), up 4.9%. Not bad considering Apple's 19% decline.
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  • Mar. 8, 2013, 7:40 AM
    A check of the largest banks premarket after last night's stress test results: C +2.1%, JPM -0.8%, BAC +0.3%, WFC +0.5%, MS -1.6%, GS -0.3%. The XLF +0.6%.
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  • Mar. 7, 2013, 4:37 PM
    Fed Stress Tests: Ally Financial is the only bank not meeting the Fed standards.  All of the other 18 holding companies showed a Tier 1 Common Ratio higher than 5% under the central bank's severe loss scenario.
  • Mar. 7, 2013, 3:37 PM
    A number of states are investigating the usual banking suspects for possibly assisting debt collectors in collecting against faulty judgements, according to sources. As with the recently-settled mortgage charges, the probe focuses on the banks' poor paperwork and weak tracking of the debts as they were sold to different buyers. 
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  • Mar. 7, 2013, 11:01 AM
    The big U.S. banks are considering defying the Fed and announcing capital return plans shortly after stress tests are released this afternoon, reports Bloomberg. The Fed wants the lenders to wait another week, but bank lawyers worry the plans will leak out. It's under discussion, JPM CFO Lake told an investor conference (transcript) Tuesday. XLF +0.6%.
  • Mar. 6, 2013, 10:57 AM
    All 17 bank holding companies subject to Fed stress tests will pass the exam, says Credit Suisse's Moshe Orenbuch (results due Thursday). He thus sees payout ratios for the group rising to 64% of earnings this year from 36% in 2012, with BofA (BAC), Citigroup (C), and Regions Financial (RF) getting the biggest bump. Morgan Stanley (MS) and SunTrust (STI) should also see sizable increases.
  • Mar. 4, 2013, 11:55 AM
    Expect gradual, but not outsized jumps in capital returns from the banks this year, says Goldman (stress tests results are due Thursday, capital return decisions due March 14). Management teams are likely to be conservative in their requests from the Fed as "taking a mulligan" - i.e., resubmitting a plan after being shot down - is not seen as a viable option.
  • Feb. 27, 2013, 8:08 AM
    Those believing in strong economic recovery may have interest in Ken Heebner's CGM Focus Fund. Heebner was short $300M in Treasurys (21% of fund) at year's end, up from $190M at the end of Q3, and $80M at the end of June. Most of the rest of the fund is divided between the banks and homebuilders. TLT -2.1%, XLF +5.9%, XHB +4.4%, S&P 500 +5.3% YTD.
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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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