🏦 Goldman Sachs Slides as M&A Outlook Fails to Lift Sentiment, JPM Shares Drift Lower | Financials Sector Insight
(XLF) fell 1.3% as financials underperformed other major sectors, which saw gains in Energy, Technology, and Consumer Staples. Market breadth within the sector deteriorated sharply, with declining stocks significantly outnumbering advancers, pushing XLF to a new year low.
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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.
Friday, January 23
XLF [-1.3%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) has experienced a notable decline, dropping significantly as financials underperform relative to other sectors. As of two hours and fifteen minutes ago, the financial sector decreased, while Energy, Technology, and Consumer Staples recorded gains. The advance-to-decline ratio for financial stocks was heavily skewed, with a majority of stocks declining. Additionally, pre-market discussions highlighted that the Bank of QQQ has surpassed XLF, marking a new year low for the fund. Among the ETF's holdings, major contributors to the downturn included JPMorgan Chase, Mastercard, Goldman Sachs, Bank of America, and Wells Fargo, all reporting significant losses. Furthermore, the Dow Jones Index has also declined, reflecting broader market sentiment that may be impacting the financial sector's performance today.