🏦 Market Update: BXSL Rises Ahead of Earnings, SPGI and MA Gain with Sector Growth, UWMC Falls on Weak Q2 Results | Financials Sector Insight
Berkshire Hathaway was a notable contributor, reporting strong fiscal second-quarter results with revenues surpassing estimates and adjusted earnings per share significantly above expectations.
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Tuesday, August 6
XLF [+0.4%]
The Financial Select Sector SPDR Fund (XLF) saw a price increase of 0.5% since Monday, driven by significant movements among its top holdings. Berkshire Hathaway was a notable contributor, reporting strong fiscal second-quarter results with revenues surpassing estimates and adjusted earnings per share significantly above expectations. The company has reduced its stake in Apple, now valued at $84 billion, while cash reserves have reached a record high, primarily held in Treasury bills. Other contributors included JPMorgan Chase, Visa, Bank of America, and Wells Fargo, all of which also posted positive returns, further supporting the ETF's performance.