🏦 Morgan Stanley Shares Surged after Stellar Q3 Earnings while Synchrony Financial and US Bancorp also saw Significant Gains | Financials Sector Insight
The Financial Select Sector SPDR Fund (XLF) has experienced a price increase since Tuesday. Over the past year, the financial sector has shown a significant percentage change of 41.2%, outperforming the energy sector, which has only increased by 0.2%.
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Wednesday, October 16
XLF [+0.4%]
Financial Select Sector SPDR Fund (XLF)
The Financial Select Sector SPDR Fund (XLF) has experienced a price increase since Tuesday. Over the past year, the financial sector has shown a significant percentage change of 41.2%, outperforming the energy sector, which has only increased by 0.2%. Among the ETF's holdings, Morgan Stanley was a notable contributor, reporting strong third-quarter results with adjusted earnings per share of $1.88 and revenue of $15.38 billion, attributed to growth in wealth management and institutional securities. Other contributors included Bank of America, Visa, Goldman Sachs, and U.S. Bancorp, with each reporting positive returns and developments, such as Visa's strategic partnership to enhance analytics and U.S. Bancorp's slight earnings beat alongside plans to resume share buybacks.