The MarketReader Minute
🏦 XLF Dips as Fed Holds Rates and Financial Stocks Slide; HSBC Falls After Profit Drops and Revenue Misses Estimates | Financials Sector Insight
Financials edged lower with XLF down 0.5%, tracking the Dow’s 0.53% decline. Despite strong Q2 GDP growth (3%) and July job gains, the Fed kept rates steady at 4.25%–4.50%. Visa, Mastercard, and Blackstone all fell, even as Visa announced new Google Pay integrations.