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Financial Select Sector SPDR ETF (XLF)

  • Sep. 20, 2010, 12:40 PM
    Stock offerings down 15%, bond issuance down 25%, revenue slipping - Wall Street's still making plenty but its main businesses are slowing down, causing analysts to revisit their profit forecasts for financials.
  • Sep. 15, 2010, 9:52 AM
    Financial stocks lead the broad market lower after E-Trade (ETFC -0.9%) says daily average revenue trades for August fell 36% Y/Y and 5% from July 2010, and Charles Schwab (SCHW -1.4%) says daily average trades in August fell 16% Y/Y and 5% from July. (ETF: XLF)
  • Sep. 7, 2010, 9:26 AM
    The IPO backlog is now huge: 161 companies have filed to raise a record $56B. Unlike the tech IPO boom in 2000, many are proven businesses, including GM, Toys 'R' Us, Nielsen and Booz Allen. "The question," says Renaissance Capital, "is whether the market can absorb it all." (More IPO news and analysis.)
  • Sep. 3, 2010, 3:49 PM
    Banks go from worst to first, as the sector (ETF: XLF) roars back this week from 2010 lows. Fundamental investors were encouraged by attractive valuations and the better-than-expected jobs report, and technicians were heartened by the bounce off support levels. Today: BAC +1.6%, JPM +2.6%, WFC +2.8%, GS +7.5%, MTG +7.6%, PMI +10.3%.
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  • Aug. 30, 2010, 2:58 PM
    Financials are among the session's weakest sectors, falling back to earth after Friday's Bernanke-inspired gains. Losses in Citigroup (C -1.4%) and BofA (BAC -2.3%) are accelerating into the final hour; Lincoln National (LNC -2.9%) is among the S&P biggest decliners. The Financial Sector SPDR ETF (XLF -1.5%) has shed 7%+ in August on signs the economy has hit another soft patch.
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  • Aug. 7, 2010, 8:00 AM
    Just three months ago, Bank of America (BAC) and JPMorgan Chase (JPM) were perfect (trading to a profit every day of the quarter), but perfection's harder to come by in Q2: BofA lost on 12 of 63 days and JPM lost on eight of 65 days. Still, financials overall haven't been hurting: up 3% as a sector in the past three months, vs. the S&P 500's -0.6%.
  • Aug. 3, 2010, 1:50 PM
    Goldman Sachs (GS) is thinking about spinning off all or part of its massive private-equity arm, concerned that the Volcker Rule will create enormous uncertainty that sends investors fleeing. Goldman isn't the only one worried either.
  • Jul. 8, 2010, 2:34 PM
    Goldman Sachs (GS -1.5%) shares fall on heavy volume after analyst Meredith Whitney lowers earnings estimates for the bank, projecting Q2 earnings of $1.70/share, down from her previous forecast of $4.75. For the year, Whitney expects EPS of $15.70, down from her prior view of $20. (ETF: XLF)
  • Jul. 7, 2010, 1:42 PM
    Maybe no news is good news for equities: New highs and then some, with the S&P 500 now up 1.9%. Up volume is more than 80% of the total, but volume overall hasn't been especially high. While financials continue to soar today, there's some bearish options activity in the Financial Select Sector SPDR (XLF +2.8%): 215K puts, trading against 102K calls.
  • Jul. 6, 2010, 9:23 AM
    Goldman Sachs (GS) is upgraded to overweight from neutral and Deutsche Bank (DB) is cut to underweight from neutral by analysts at J.P. Morgan. GS +2% premarket. Goldman's risk management was "best in class" and could act "as a benchmark for investment banking peers," according to a research note. (ETF: XLF)
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  • Jun. 30, 2010, 7:29 AM
    Congressional Democrats abandoned a controversial proposal in the financial reform bill that would have levied a $19B tax on the country's largest banks. Instead, lawmakers will offset the bill's costs by winding down TARP early and assessing a $5.7B fee on banks through the FDIC. Premarket: C +2.4%, GS +0.4%, BAC +1.2%, JPM +0.9%.
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  • Jun. 25, 2010, 9:13 AM
    Bank stocks are among premarket gainers now that investors have some clarity about the final version of financial reform legislation. Rochdale's Dick Bove sums up Street sentiment: "The banks can get around this stuff. Banks are not going to suffer here." He predicts a short-term bank stock rally: "Now the government has to go out and support the industry, because they said they fixed it."
  • Jun. 16, 2010, 11:48 AM
    In an indicator of ongoing lending struggles, 91 banks and thrifts skipped their May TARP payments - 23 of them for the first time. That's up from 74 banks deferring in February and 55 in November. Twenty banks have missed four or more payments, and eight have missed five. (previously)
  • Jun. 15, 2010, 5:17 PM
    The Fed unveils new credit card rules that cap most late fines at $25; ban inactivity fees; prevent cascading penalties; and require issuers to consider a roll back of recent rate hikes. Analysts say issuers may boost minimum payments in order to capture more penalties, and make up for the loss of the typical $39 late fee.
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  • Jun. 11, 2010, 8:16 AM
    Fed's Hoenig backs Senator Blanche Lincoln's proposal to bar commercial banks from swaps trading. In a letter to Lincoln, Hoenig said tradings in swaps and derivatives creates risks that "are generally inconsistent with the funding subsidy afforded institutions backed by a public safety net,” and that "such activities should be placed in a separate entity that does not have access to government backstops."
  • Jun. 10, 2010, 1:50 PM
    Every financial service stock in the S&P 500 is higher today except Goldman Sachs (GS -2.8%), whose shares tumble to a 52-week low as the SEC hunts for fresh dirt and perhaps force it to settle on terms more to the regulator's liking. (ETF: XLF)
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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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