🏦 Loews Dips Despite Revenue Rise, Charles Schwab Falls and Coinbase Rises on Crypto Outreach and Earnings Anticipation | Financials Sector Insight

Truist Securities raised the price target for Columbia Banking System from 20 to 29, maintaining a Hold rating. Meanwhile, JPMorgan increased the price target for Valley National Bancorp from 8.00 to 9.00, while keeping a Neutral rating.

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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.

Monday, July 29

XLF [-0.3%]
The Financial Select Sector SPDR Fund (XLF) declined by 0.3% since Friday's market close. Key contributors to this movement included BRK.B, which fell slightly, and SCHW, which dropped significantly following a downgrade by Piper Sandler. This downgrade has led to negative sentiment surrounding Charles Schwab Corp. Additionally, Morgan Stanley's anticipated interest rate cuts later this year were noted, although uncertainty remains regarding the timing as Chair Powell may not provide specific details. In parallel, the Dow Jones Index also moved down by 0.31%, reflecting a strong historical correlation with XLF's performance.

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