🏦 XLF Rises as U.S.-Japan Deal Boosts Financials; Goldman Sachs Advances Tokenized Finance with BNY Mellon Partnership | Financials Sector Insight
The Financial Select Sector SPDR Fund (XLF) climbed 0.8%, lifted by a new U.S.-Japan trade deal and resilience in consumer credit. Top contributors included JPM, BAC, and GS—Goldman is teaming up with BNY Mellon to launch digital tokens tied to money-market funds.
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Wednesday, July 23
XLF [+0.8%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) has seen a price increase of 0.8% since Tuesday. A newly finalized trade agreement between the U.S. and Japan is expected to reduce tariffs on Japanese goods, potentially boosting investment in the U.S. General Motors reported strong Q2 revenue but faces challenges from rising tariffs affecting its outlook for H2 2025, reflecting broader concerns in sectors tracked by XLF. On social media, Capital One noted that the U.S. consumer remains a source of strength, attributed to robust labor markets and improving conditions that lead to reduced delinquency rates. Among XLF's top holdings, JPMorgan, Visa, Goldman Sachs, Wells Fargo, and Bank of America contributed positively to the fund's performance. Goldman Sachs is also partnering with Bank of New York Mellon to launch digital tokens for money-market funds, tapping into the sizable U.S. money-market funds market.