🏦 Financial Sector Boosted by UBS Optimism and Analyst Upgrades, While UP Fintech and Futu Holdings Lead Market Surge | Financials Sector Insight
UBS has issued a favorable outlook on the re-rating of commercial real estate-focused regional banks, as highlighted in their Q3 preview for US banks released recently. This analysis may reflect a positive sentiment towards the broader financial sector.
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Wednesday, October 2
XLF [+0.3%]
Financial Select Sector SPDR Fund (XLF)
UBS has issued a favorable outlook on the re-rating of commercial real estate-focused regional banks, as highlighted in their Q3 preview for US banks released recently. This analysis may reflect a positive sentiment towards the broader financial sector. Among the ETF's holdings, significant contributors to its performance included Mastercard, CME Group, PayPal, Visa, and Global Payments, all of which reported negative returns. CME Group announced plans to launch options on E-mini Select Sector and Dow Jones U.S. Real Estate Index futures, alongside record average daily volumes for Q3 and September. Additionally, the Russell 2000 Index has decreased, suggesting broader market sentiment that may also be influencing XLF's recent performance.