🏦 XLF Declines Amid Rising Delinquencies While Major Banks Post Losses | Financials Sector Insight
Notable contributors to XLF's performance include JPM, AXP, BAC, MA, and WFC, all of which reported negative returns. American Express noted an increase in U.S. consumer card member loans but also faced rising delinquency rates.
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Below are AI-generated insights on moves in the financials sector, powered by MarketReader technology.
Monday, November 17
XLF [-2.1%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) is currently under downward pressure, reflecting a broader trend across multiple sectors. As of recent reports, the financial sector has declined by 2%, while the technology sector, represented by XLK, leads with a drop of 2.1%. Among S&P sector ETFs, financials are underperforming with a decrease of 0.30%. Notable contributors to XLF's performance include JPM, AXP, BAC, MA, and WFC, all of which reported negative returns. American Express noted an increase in U.S. consumer card member loans but also faced rising delinquency rates. Meanwhile, Mastercard is experiencing stock pressure amid criticism over swipe fees. Additionally, the Dow Jones Index has declined by 1.42%, which may be influencing XLF's price movement today.