The Financial Select Sector Spdr Fund The Financial Select Sector Spdr Fund ETF News

Analysts downgrade Citi to underweight and boost Bank of America to equal weight as it eyes 'fatter tail risks' from the Ukraine war

Smart Beta ETF report for KBWD

Prior to the 2000s, financial stocks did not track changes in interest rates.

The ongoing Fed rate hike cycle could get more aggressive than forecast due to a sky-high inflation.

The ongoing Fed rate hike cycle could get more aggressive than forecast due to a sky-high inflation.

Inversion of the yield curve shouldn't scare investors out of “financials”, says analysts at the Bank of America. As of Tuesday, the yield on 3-year bonds has surpassed the one on 10-year bonds.

The "Halftime Report" traders debate Bank of America's bullish call on the banks

We have narrowed our search to five banking stocks\. These are: SBNY, FFIN, CBSH, CFR and ASB.

Sector ETF report for XLF

The yield spread between the Select Financial Sector SPDR ETF and 10-year Treasury rates has reverted to its historical mean by the recent market correction.

U.S. Weekly FundFlows Insight Report: Investors Sour On Bond Funds And ETFs For The Lipper Fund-Flows Week

Shares of American Express Co. rose 0.3% in morning trading Thursday, to buck the selloff in its financial peers and the broader stock market, after the credit card and travel-related services company raised its dividend by about 21%. The stock was one of just six of the Dow Jones Industrial Average''s 30 components that was gaining ground. The company said its new quarterly dividend of 52 cents a share, up from 43 cents, will be payable May 10 to shareholders of record on April 8. Based on current stock prices, the new annual dividend rate would imply a dividend yield of 1.23%, compared with the yield for the SPDR Financial Select Sector ETF of 1.74% and the implied yield for the S&P 500 of 1.51%. AmEx''s stock has gained 1.3% over the past three months, while the financial ETF has shed 6.2% and the Dow has lost 8.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Equal weighting provides increased diversification compared to their market cap-weighted counterparts and have historically fared well – as demonstrated last month when the S&P 500 Equal Weight Inde

Citigroup Inc. said Monday its Citi Commercial Bank plans to hire 400 commercial bankers as part of a 900-person increase in staffing to the business unit that serves mid-sized companies in more than 60 countries. Citi said it''s focusing on multinational enterprises including clients with annual revenue of $10 million to $3 billion in the U.S., China, Brazil, India and countries in Western Europe. Tasnim Ghiawadwala, global head, Citi Commercial Bank, said the bank offers clients "global connectivity and institutional expertise across working capital management and strategic capital market offerings." Shares of Citi rose fractionally in pre-market trades. The stock is down 8% in 2022, compared to a drop of 11.9% by the S&P 500 and a dip of 8.1% by the Financial Select Sector SPDR ETF XLF . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Bank of America Corp. said its 67 million clients made $294 billion in payments in February, up 16% over the year-ago period. "Strong spending trends across a variety of sectors such as travel, restaurants, public transportation and gym memberships suggest more consumers are returning to the office and resuming more in-person activities," said Mary Hines Droesch, head of consumer and small business products at Bank of America. Combined credit and debit card spending rose 21% to $63 billion. Bank of America client deposits rose 15% to $1.4 trillion. Shares of Bank of America rose 0.4% in premarket trades. The stock is down 13.8% this year, compared to a dip of 11.9% by the S&P 500 and a drop of 8.1% by the Financial Select Sector SPDR ETF . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.