XLF - Financial Select Sector SPDR Fund

NYSEArca - Nasdaq Real Time Price. Currency in USD
30.78
-0.29 (-0.93%)
At close: 4:00PM EST
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Previous Close31.07
Open30.92
Bid30.67 x 3000
Ask30.68 x 42300
Day's Range30.60 - 30.99
52 Week Range25.08 - 31.38
Volume51,128,175
Avg. Volume38,495,783
Net Assets24.55B
NAV30.78
PE Ratio (TTM)N/A
Yield1.92%
YTD Daily Total Return0.98%
Beta (5Y Monthly)1.17
Expense Ratio (net)0.13%
Inception Date1998-12-16
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    Financial stocks in broad decline as 10-year Treasury yield falls below 1.5%

    Financial stocks were suffering broad weakness in the premarket session, as the 10-year Treasury yield dropped below the 1.5% mark for the first time since early-September 2019. The SPDR Financial Select Sector ETF shed 0.7% ahead of the open. Among the ETF's more-active components, shares of J.P. Morgan Chase & Co. slid 0.9% to pace all the Dow Jones Industrial Average components in losses ahead of the open, Bank of America Corp. fell 0.7% and Citigroup Inc. fell 0.7%. The 10-year Treasury yield declined 4.5 basis points to 1.480%, amid concerns that the economic impact of COVID-19 may not be contained to China. Lower longer-term yields can weigh on bank earnings, as it narrows the spread between what banks earn on longer-term assets, like loans, which are funded by shorter-term liabilities.

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    Warren Buffett's Berkshire Hathaway stock rises after UBS gets more bullish

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    Financial stocks sink as coronavirus fears send Treasury yields lower

    Financial stocks sank Monday, as worries over the impact of the fast-spreading coronavirus out of China on economic growth sent Treasury yields to multi-month lows. The SPDR Financial Select Sector ETF slumped 1.8% toward a 7-week low. Among the more active components in premarket trading, shares of Bank of America Corp. slid 2.7%, Citigroup Inc. shed 2.5%, J.P. Morgan Chase & Co. dropped 2.2%, Wells Fargo & Co. gave up 1.9% and Berkshire Hathaway Inc. declined 1.6%. Meanwhile, futures for the Dow Jones Industrial Average were down 430 points, or 1.5%. The yield on the 10-year Treasury note fell 6.3 basis points to a 3 1/2-month low of 1.618%. Lower long-term interest rates could hurt bank profits, as the spread between what they could earn on longer-term liabilities, such as loans, which are funded by shorter-term assets.

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    American Express's stocks rises toward a record after profit beat expectations

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    State Street's stock surges toward 15-month high after profit, revenue rise above forecasts

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    Charles Schwab's stock slips after profit miss, revenue declines in line with expectations

    Shares of Charles Schwab Corp. lost 0.8% in premarket trading Thursday, after the discount broker reported fourth-quarter profit that fell below expectations. Net income fell to $852 million, or 62 cents a share, from $935 million, or 65 cents a share, in the year-ago period. The results include an expense related to pending acquisitions of 1 cent per share. The FactSet consensus for earnings per share was 64 cents. Revenue fell 2% to $2.61 billion, matching the FactSet consensus, as net interest revenue declined 1.9% to $1.60 billion. Asset management and administration fees revenue rose 12% to $845 million, just shy of the FactSet consensus of $846 million, while trading revenue dropped 58% to $86 million but beat expectations of $78 million. Schwab caused a stir in the discount broker industry during the fourth quarter, when it dropped commissions on U.S. stocks, ETF and options, then announced a deal to buy rival TD Ameritrade Holding Corp. in a $26 billion deal. Schwab's stock has soared 20.8% over the past three months through Wednesday, while the SPDR Financial Select Sector ETF has gained 9.5% and the Dow Jones Industrial Average has advanced 7.5%.

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    Morgan Stanley's stock surges after profit, revenue rise well above expectations

    Shares of Morgan Stanley surged 2.5% toward a 20-month high in premarket trading Thursday, after the investment bank and broker reported fourth-quarter profit and revenue that rose well above expectations. Net income increased to $2.90 billion, or $1.30 a share, from $1.53 billion, or 80 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.02. Total revenue grew 27% to $10.86 billion, above the FactSet consensus of $9.71 billion. Institutional securities revenue rose 32% to $5.05 billion, beating the FactSet consensus of $4.46 billion. Within trading, equity sales and trading revenue slipped 0.5% to $1.92 billion, just shy of the FactSet consensus $1.93 billion, while fixed income revenue more than doubled (up 126%) to $1.27 billion, beating expectations of $859.0 million. Investment banking revenue rose 11% to $1.58 billion to top expectations of $1.52 billion. The stock has rallied 23.7% over the past three months through Wednesday, while the SPDR Financial Select Sector ETF has gained 9.5% and the S&P 500 has advanced 10.0%.

  • MarketWatch

    Bank of America's stock gains after profit, revenue top expectations

    Shares of Bank of America Corp. rose 0.7% in premarket trading Wednesday, after the bank reported fourth-quarter earnings that topped expectations. Net income was $6.75 billion, or 74 cents a share, compared with $7.04 billion, or 70 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 68 cents. Total revenue slipped 1.4% to $22.35 billion, from $22.68 billion, but was above the FactSet consensus of $22.22 billion. Net interest income declined 2.9% to $12.14 billion, topping expectations of $12.07 billion. Consumer banking revenue fell 4% to $9.5 billion, while combined credit/debit card spend increased 6%. Global markets revenue rose 6% to $3.4 billion, driven by the sales and trading business. Fixed income, currency and commodities revenue rose 25% to $1.8 billion, which particular improvement in mortgages, while equities revenue declined 4% to $1.0 billion given lower client activity in derivatives. The stock has surged 18.8% over the past three months through Tuesday, while the SPDR Financial Select Sector ETF has gained 9.8% and the S&P 500 has advanced 9.6%.

  • MarketWatch

    Bank of America's stock rises on heavy volume ahead of earnings report

    Shares of Bank of America Corp. rallied 1.1% in active afternoon trading Tuesday, ahead of the bank's fourth-quarter earnings report due out before the next session's opening bell. Trading volume was over 47.3 million shares, enough to make the stock the most actively traded on major U.S. exchanges. Analysts surveyed by FactSet expect, on average, earnings per share of 68 cents and revenue of $22.22 billion and net interest income (NII) of $12.07 billion. The company has beat profit expectations the past 18 quarters, according to FactSet. Over the same time, BofA has beat revenue expectations 11 times and NII estimates 9 times. On Tuesday, J.P. Morgan Chase & Co. and Citigroup Inc. beat profit and revenue expectations, while Wells Fargo & Co. missed on both. Bank of America's stock has soared 21.6% over the past three months, while the SPDR Financial Select Sector ETF has rallied 11.8% and the S&P 500 has gained 10.9%.

  • MarketWatch

    Citigroup's stock gains after profit and revenue rise, top expectations

    Shares of Citigroup Inc. rose 1.2% in premarket trading Tuesday, after the bank reported fourth-quarter profit and revenue that topped expectations, as strength in its institutional clients group business offset lower-than-expected consumer banking revenue. Net income rose to $4.98 billion, or $2.15 a share, from $4.31 billion, or $1.64 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.81. Revenue rose 7% to $18.38 billion, above the FactSet consensus of $17.90 billion. Consumer banking revenue increased 5% to $8.46 billion, below the FactSet consensus of $8.93 billion, while institutional clients revenue grew 12% to $9.47 billion to beat expectations of $8.79 billion. Equity markets revenue fell 23% to $516 million and fixed income revenue grew 49% to $2.90 billion. "With increased revenues and disciplined expense management, we had positive operating leverage, even as we continued to make significant investments in the franchise," said Chief Executive Michael Corbat. The stock has climbed 14.8% over the past three months through Monday, while the SPDR Financial Select Sector ETF has advanced 11.6% and the S&P 500 has rallied 10.9%.

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