🏦 Robinhood Slips Amid CEO Stock Sale, While Affirm Surges on Upgrade and Goldman Eyes Strong Q3 Earnings | Financials Sector Insight
Key contributors to this performance include Goldman Sachs (GS), which rose significantly, supported by JMP Securities raising its price target from 525 to 550 while maintaining a Market Outperform rating ahead of its earnings report on October 15.
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Wednesday, October 9
XLF [+0.6%]
Financial Select Sector SPDR Fund (XLF)
The Financial Select Sector SPDR Fund (XLF) has seen a price increase of 0.6% since Tuesday. Key contributors to this performance include Goldman Sachs (GS), which rose significantly, supported by JMP Securities raising its price target from 525 to 550 while maintaining a Market Outperform rating ahead of its earnings report on October 15. Other notable performers were JPMorgan Chase (JPM), Morgan Stanley (MS), Progressive (PGR), and Charles Schwab (SCHW), each contributing positively to the ETF's performance. Additionally, Morgan Stanley is involved in advising on a potential merger between UniCredit and Commerzbank and is acting as a joint book-running manager for an unspecified offering. Furthermore, it forecasts European Central Bank rate cuts beginning on October 17, 2024, projecting reductions at upcoming meetings.