🏦 Financials Rise on Rate Cut Bets Despite Trade Tensions, Affirm Soars to 6-Month High | Financials Sector Insight
(XLF) rose 0.7%, buoyed by rising rate cut expectations after weak July job data. President Trump’s new 35% tariff on non-USMCA goods sparked volatility concerns, while JPM, GS, Visa, and Mastercard all posted gains. Some traders flagged a technical gap in XLF, suggesting near-term caution.
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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.
Monday, August 4
XLF [+0.7%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) has seen a price increase of 0.7% since Friday. This movement coincides with President Trump's announcement of new tariffs, including a substantial 35% tariff on non-USMCA goods, raising concerns about economic growth and market volatility. Disappointing job data from July, which reported only 73,000 jobs added, has led to heightened expectations for potential interest rate cuts by the Federal Reserve. Social media discussions have surfaced regarding a significant gap in XLF, suggesting possible declines ahead and a potential move towards the 200-day moving average. Among XLF's holdings, notable contributors include JPM, MA, SPGI, V, and GS, all of which posted increased returns. Additionally, the Dow Jones Index has risen by 1.18%, reflecting broader market sentiment that may also influence XLF's performance.