🏦 Mastercard, Coinbase, and UBS Face Downturn Amid Inflation Data and Sector-Specific Developments | Financials Sector Insight
(XLF) has seen a price increase of 0.5% since Tuesday. U.S. Treasury yields have surged, with the benchmark ten-year note reaching its highest level in four months at 4.432%, coinciding with market anticipation of inflation data that could influence Federal Reserve policy decisions.
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Wednesday, November 13
XLF [+0.5%]
Financial Select Sector SPDR Fund (XLF)
The Financial Select Sector SPDR Fund (XLF) has seen a price increase of 0.5% since Tuesday. U.S. Treasury yields have surged, with the benchmark ten-year note reaching its highest level in four months at 4.432%, coinciding with market anticipation of inflation data that could influence Federal Reserve policy decisions. This rise in yields typically puts downward pressure on financial sector stocks, contributing to a daily return of -0.1% for XLF. Today's Consumer Price Index (CPI) report indicated a year-over-year increase to 2.6% for October, with core CPI steady at 3.3%, reinforcing concerns about persistent inflation. Among the ETF's holdings, significant contributors included JPMorgan Chase, Wells Fargo, Bank of America, Goldman Sachs, and S&P Global, all posting positive returns. Additionally, iPower renewed its secured revolving credit facility with JPMorgan Chase, while S&P Global launched an API aimed at enhancing accessibility to its data for financial professionals.