XLF Stock Recent News

The financial sector has surged to new heights, with the Financial Select Sector SPDR ETF NYSE: XLF breaking out to fresh 52-week highs on Friday. After spending over a month consolidating near previous highs, the sector's recent momentum signals the potential for further upside.

CNBC's Leslie Picker joins 'Squawk on the Street' to discuss what's in focus for third-quarter bank earnings, her recent interview with JPMorgan Chase president and COO Daniel Pinto, and more.

Since the start of this month, financial stocks have outperformed the S&P 500 Index as investors anticipate the upcoming quarterly earnings reports from major banks. The Financial Select Sector SPDR ETF (XLF, Financial) has been the second-best performing industry ETF, trailing only the energy sector.

JPMorgan (JPM), Wells Fargo (WFC), and BNY Mellon (BK) will kick off the third quarter earnings season on Friday. Citizens JMP director of financial technology research Devin Ryan joins Market Domination to break down what investors can expect from these earnings and his top plays in the sector.

Somehow we're less than three months away from the end of 2024.

XLF is a low-cost, passively managed ETF heavily weighted in top financial companies, including banks and payment processors like Visa and Mastercard. The Fed's imminent rate cuts will impact financials, with mixed effects on XLF due to lower NIMs and increased loan activity. XLF should be able to perform well in rate-cutting cycles, but it depends on how and why rates are lowered.

This has been an interesting week to try and make sense of the investment opportunity set right in front of us.

Launched on 12/16/1998, the Financial Select Sector SPDR ETF (XLF) is a passively managed exchange traded fund designed to provide a broad exposure to the Financials - Broad segment of the equity market.

As the year's second half unfolds, we've observed a notable shift in market momentum, with investors rotating from leading sectors into those that previously lagged. The financial sector, in particular, has emerged as a standout performer, significantly outpacing the broader market.

Of the 16 Zacks sectors, nine are expected to post earnings growth in the second quarter, with the strongest gains in the Technology sector (15.8%).