🏦 XLF Slips as Tariff Deal and Labor Data Weigh on Sentiment, PayPal Falls Despite Q2 Beat | Financials Sector Insight
(XLF) declined 0.5% on Tuesday, tracking broader market weakness following the U.S.-EU trade agreement. PayPal fell despite strong Q2 earnings, with concerns over transaction volumes. Visa and Mastercard declined ahead of earnings amid cautious sentiment.
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Tuesday, July 29
XLF [-0.5%]
Financial Select Sector SPDR Fund
The Financial Select Sector SPDR Fund (XLF) has seen a decline of 0.5% during market hours on Tuesday. This movement coincides with the finalization of a significant trade agreement between the U.S. and European Union, which includes 15% tariffs on various imports, bolstering the U.S. dollar against major currencies like the Euro. The recent drop in job openings indicates a potential cooling in labor demand, which may affect financial stocks within XLF. Among its holdings, PayPal Holdings Inc reported strong Q2 results but experienced a notable stock decline due to concerns over transaction volume. Visa and Mastercard also faced declines amid negative sentiment from gamers ahead of their earnings reports. Additionally, the Dow Jones Index has dropped by 0.52%, reflecting broader market sentiment that may be influencing XLF's performance.