🏦 XLF Hits All-Time High Amid Fed's Regulatory Easing; Affirm Surges on Strong Q2 Earnings | Financials Sector Insight
The U.S. Nonfarm Payrolls report released today revealed an increase of 143,000 jobs in January, below expectations, while the unemployment rate decreased to 4%. (XLF) achieved an all-time high, distinguishing itself as the only sector ETF within the S&P 500 to do so.
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Friday, February 7
XLF [+0.3%]
Financial Select Sector SPDR Fund
The U.S. Nonfarm Payrolls report released today revealed an increase of 143,000 jobs in January, below expectations, while the unemployment rate decreased to 4%. Average hourly earnings rose by 0.5%, suggesting persistent wage pressures. The Federal Reserve's decision to ease regulatory burdens on major banks, including the discontinuation of its climate stress test program, has led to significant market movements, with financial stocks reaching new highs. Notably, the Financial Select Sector SPDR Fund (XLF) achieved an all-time high, distinguishing itself as the only sector ETF within the S&P 500 to do so. Key contributors to XLF's performance included JPMorgan Chase, American Express, and Schwab, with notable price target adjustments by analysts from Wells Fargo and Daiwa Securities.