SPDR Select Sector Fund - Financial (ARCA: XLF)

最新ニュース SPDR Select Sector Fund - Financial (ARCA:XLF)

SPDR Select Sector Fund - Financial

Financial Services

Industrials

Technology

The fund generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: diversified financial services; insurance; banks; capital markets; mortgage real estate investment trusts (REITs); consumer finance; and thrifts and mortgage finance. The fund is non-diversified.

Berkshire Hathaway, Inc.

Jpmorgan Chase & Co.

Visa Inc-Class A Shares

Mastercard Inc Common Stock Usd 0.0001

Bank Of America Corp.

Wells Fargo & Co.

Goldman Sachs Group Inc.

S&P Global Inc

American Express Co.

Morgan Stanley

The Financial Select Sector SPDR Fund

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Equities

Large Cap

Macro Notification

Mid Cap

Sector ETFs

Bonds

Broad U.S. Equity ETFs

Rumors

Commodities

Small Cap

Treasuries

Econ #s

Federal Reserve

Tech

ETFs

$BTC

AAPL

AFRM

SPDR Dow Jones Industrial Average ETF Trust

ダウ工業株30種平均は0.7％低下し、19,076.80ポイント、S&amp;P 500 は5,348.59ドル（0.2％減）となり、ナスダック総合株価指数は38,578.53ドル（0.7％減）で推移しています。

アップルが史上最高値を更新もビットコインは停滞

INVESCO FINANCIAL S&P US SECTOR  ETF

A stronger-than-expected September jobs report fueled gains on Wall Street, overshadowing investor concerns that had been driven by escalating geopolitical tensions in the Middle <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">East earlier this week. </a>
The U.S. economy added 254,000 nonfarm payroll jobs in September, a significant jump from August's 159,000 and well above forecasts of 140,000. This marked the most robust employment growth since March 2024.
In addition, the unemployment rate dropped more than anticipated to 4.1%, while average hourly earnings also surpassed expectations, signaling a red-hot labor market.
Small-cap stocks outpaced their large-cap peers as worries about an economic slowdown subsided further. Meanwhile, traders adjusted their outlook for the Federal Reserve's November meeting, reducing the probability of a 50-basis-point rate cut from 30% to just 10% as the stronger jobs data diminished the need for a more aggressive policy move.
U.S. Treasury yields rose sharply in response to the solid labor market data. The 2-year yield climbed by 20 basis points, while the 10-year yield increased by 12 basis points. 
Chinese equities continued their upward trajectory, driven by ongoing domestic stimulus measures. The iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) reached levels last seen in February 2022, just before Russia's invasion of Ukraine.
Gold dipped 0.3% as the U.S. dollar strengthened and bond yields climbed. Oil prices extended their rally for the fourth consecutive session, with WTI crude hitting $75 per barrel during intraday trading.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged 2.2%, climbing to $62,000.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,203.80</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,932.47</td>
<td>0.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,727.63</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,146.54</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.5% to $570.47.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.3% higher to $421.66.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.7% to $484.95.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.2% to $218.77.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.2%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Semiconductor stocks rallied, with Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) leading gains, up over 4%. </li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) fell over 4% on a quarterly revenue miss. </li>
<li>Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) tumbled 26%, amid bankruptcy discussions with creditors following the failed merger with JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>). Peers such as American Airlines Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>) and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rallied on the news, up by 5.4% and 3.6%, respectively. </li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">&#8216;Blowout&#8217; September Jobs Report Spurs Reactions: 6 Economists Say Aggressive Fed Rate Cuts May Face Obstacles</a>
Image created using artificial intelligence via Midjourney.

Asia

Macro Economic Events

Emerging Markets

Economics

JBLU

RIVN

SAVE

XLRE

Wall Street Rallies, Small Caps Outperform On Strong Jobs Report, Chinese Stocks Soar To 32-Month Highs: What's Driving Markets Friday?

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading higher on Friday. On October 1, 2024, the company became a substantial shareholder in The Star Entertainment Group Limited, acquiring <a target="_blank" href="https://www.starentertainmentgroup.com.au/wp-content/uploads/2024/10/03-OCT-2024-ASX-Announcement-Notification-of-Substantial-Shareholding.pdf" rel="noreferrer noopener">156.99 million </a>ordinary shares, representing 5.47% voting power.
Star Entertainment is an Australian casino operator. The company has been in troubled waters due to liquidity issues, and shares dipped by 66% in 2023, reported Reuters.
Star Entertainment owns and operates The Star Sydney, The Star Gold Coast and Treasury Brisbane. It also manages the Gold Coast Convention and Exhibition Centre on behalf of the Queensland Government.
This week, JP Morgan expanded its Canadian business by launching two active ETFs on the Toronto Stock Exchange. The new ETFs target income-focused Canadian investors, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41144035/j-p-morgan-launches-new-etfs-plans-to-add-jobs-in-canada" rel="noreferrer noopener">offering capital appreciation and steady income</a>.
Along with this, JP Morgan planned to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months.
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 1.73% at $208.78 at the last check Friday.
Photo by Katherine Welles on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41178039/openai-secures-4b-credit-line-to-supercharge-ai-ambitions-and-expand-nvidia-powered-infrastructure-p" target="_blank" rel="noreferrer noopener">OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: &#8216;Provides Flexibility To Seize Future Growth Opportunities&#8217;</a></li>
</ul>

News

Media

iShares Trust Dow Jones US Financial Services Index Fund

JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading marginally higher on Wednesday. On Tuesday, J.P. Morgan Asset Management disclosed the expansion of its <a target="_blank" href="https://www.newswire.ca/news-releases/j-p-morgan-asset-management-launches-first-etfs-in-canada-828827983.html" rel="noreferrer noopener">Canadian </a>business with the launch of two active ETFs.
This launch strengthens JPMAM&#8217;s presence in Canada and provides increased access to global investment strategies through financial advisors.
Starting October 1, 2024, Canadian investors can access the JPMorgan US Equity Premium Income Active ETF (TSX:<a class="ticker" href="https://www.benzinga.com/stock/JEPI#TSX">JEPI</a>) and the JPMorgan Nasdaq Equity Premium Income Active ETF (TSX:<a class="ticker" href="https://www.benzinga.com/stock/JEPQ#TSX">JEPQ</a>) on the Toronto Stock Exchange.
In line with JPMAM&#8217;s strategy, the two ETFs target equities for potential capital appreciation and steady income, appealing to income-focused Canadian investors.
Travis Hughes, Head of&nbsp;Canada, J.P. Morgan Asset Management, said, &#8220;The introduction of the J.P. Morgan ETFs in&nbsp;Canada&nbsp;is an important advancement of our&nbsp;Canada&nbsp;market strategy, with these offerings representing the first of a broad suite of active ETF solutions we plan to deliver over time.&#8221;
&#8220;As home to the first ETF,&nbsp;Canada&nbsp;is an ideal market for these offerings. The listing of JEPI and JEPQ is a significant milestone for JPMAM as it brings focus to both the firm&#8217;s success as an active manager and the breadth and depth of its global products.&#8221;
Along with this launch, JP Morgan plans to expand its asset management business in Canada, expecting to add up to 20 jobs over the next 18 months, reported Reuters.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40962425/jp-morgan-targets-uk-with-fresh-credit-card-offering-report" rel="noreferrer noopener">JP Morgan Targets UK With Fresh Credit Card Offering: Report</a>
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 0.14% at $207.33 at the last check Wednesday.
Photo by Katherine Welles on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40967938/jpmorgan-ceo-jamie-dimon-calls-for-federal-employees-to-return-to-office-says-empty-buildings-bother" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Calls For Federal Employees To Return To Office, Says Empty Buildings &#8216;Bother&#8217; Him: &#8216;I Can&#8217;t Believe&#8230;&#8217;</a></li>
</ul>

JEPI

JEPQ

TSX:JEPI

TSX:JEPQ

J.P. Morgan Launches New ETFs, Plans To Add Jobs In Canada

U.S. Treasury Secretary Yellen Says Banking System Is Well Capitalized

Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares are trading higher on Thursday. The company inked a deal to acquire<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41046498/visa-to-acquire-featurespace" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41046498/visa-to-acquire-featurespace" rel="noreferrer noopener">Featurespace </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41046498/visa-to-acquire-featurespace" rel="noreferrer noopener">for an undisclosed amount</a>.
Featurespace is a developer of real-time AI payments protection technology that addresses fraud and financial crime risks.
This acquisition is expected to enhance Visa&#8217;s portfolio of fraud detection and risk-scoring solutions, supporting clients globally in growing and safeguarding their businesses.
The partnership between Visa and Featurespace is projected to empower clients to manage fraud in real-time and strengthen the payments ecosystem through AI-driven solutions.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40996656/visa-reportedly-faces-doj-antitrust-lawsuit-alleging-monopolization-of-us-debit-card-market-amid" rel="noreferrer noopener">Visa Reportedly Faces DOJ Antitrust Lawsuit Alleging Monopolization Of US Debit Card Market Amid Regulatory Crackdown</a>
This investment underscores Visa&#8217;s commitment to ecosystem security, having invested billions in technology over the past five years to reduce fraud and enhance network security.
The transaction, which is subject to standard closing conditions, is expected to close in fiscal year 2025.
Antony Cahill, Global Head of Value-added Services at Visa, stated, &#8220;Providing our clients with solutions that can adapt to and anticipate the changing threat landscape is of the utmost importance. Featurespace&#8217;s strong foundation in AI will enhance our existing product portfolio and enable us to address our clients&#8217; most complex and pressing challenges.&#8221;
As of June 30, Visa&#8217;s cash and cash equivalents <a target="_blank" href="https://s1.q4cdn.com/050606653/files/doc_financials/2024/q3/Q3-2024-Earnings-Release_vF.pdf" rel="noreferrer noopener">stood </a>at $19.7 billion.
This month, Visa planned to launch an account-to-account (A2A) payment service in the U.K. in early 2025, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40728834/whats-going-on-with-visa-stock-premarket-thursday" rel="noreferrer noopener">using open banking technology</a>.
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: V shares are up 1.21% at $272.91 at the last check Thursday.
Image from Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41030472/visa-stock-has-near-term-overhang-from-doj-antitrust-lawsuit-analyst-picks-3-stocks" target="_blank" rel="noreferrer noopener">Visa Stock Has Near-Term &#8216;Overhang&#8217; From DOJ Antitrust Lawsuit: Analyst Picks 3 Stocks To Benefit</a></li>
</ul>

Movers

Visa Takes On Financial Crime: Acquires AI Fraud Specialist Featurespace, Strengthening Payment Security

The S&amp;P 500 reached record highs during Wednesday morning trading in New York, while the tech-heavy Nasdaq 100 climbed past the 20,000-point mark, a level last <a href="https://www.benzinga.com/money/best-tech-stocks">seen on July 17.</a>
Semiconductor stocks outperformed, driven by anticipation of Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report, due after the market close on Wednesday.
Yet, Wall Street showed sideways performance across major indices as investors cautiously digested positive stimulus news from China, which boosted market sentiment on Tuesday, and looked ahead to upcoming economic data.
On Thursday, investors will turn their attention to the final second-quarter gross domestic product report. The second estimate already showed the U.S. economy growing at a robust 3% pace for the quarter ending in June.
Weekly jobless claims will also be closely monitored, especially after the latest Conference Board Consumer Confidence Index revealed growing labor market concerns among U.S. households.
Friday brings the release of the personal consumption expenditures price index for August, the Federal Reserve&#8217;s <a href="https://www.benzinga.com/news/large-cap/24/09/41029162/feds-favorite-inflation-data-friday-could-sway-november-interest-rate-cut-odds">preferred inflation gauge</a>. This data could provide critical clues about the expectations for the November rate cut.
The U.S. dollar index edged higher Wednesday, supported by a slight rise in Treasury yields. Oil prices dipped by 1% but pared heavier losses after a larger-than-expected draw in crude oil inventories suggested continued strong demand.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.8%, retreating from an intraday high of $64,800 – its highest level since late July.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,003.52</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,732.42</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,214.40</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,986.73</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:30 a.m.</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;flattened at $570.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.2% to $486.27.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell to $219.22.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.4%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers </h3>
<ul>
<li>Duolingo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) rallied 6% after Evercore ISI raised the price target from $270 to $335. </li>
<li>Fortrea Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) tumbled nearly 10% after Jefferies downgraded the stock from Buy to Hold. </li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) rallied nearly 5% after Jefferies raised the price target from $99 to $137. </li>
<li>Ford Motor Co. and General Motors Co. fell 4.4% and 5%, respectively, after receiving a downgrade from Morgan Stanley.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rallied 4.9% after Barclays upgraded the stock from Equalweight to Overweight, raising the price target from $20 to $24. </li>
<li>Companies reporting earnings after the close include Micron Technology Inc and Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>). </li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41025381/exclusive-novo-nordisk-faces-political-heat-over-weight-loss-drug-prices-ahead-of-e">EXCLUSIVE: Novo Nordisk Faces Political Heat Over Weight-Loss Drug Prices Ahead Of Elections, Yet &#8216;The Real Issue Is With The Middlemen&#8217;</a></li>
</ul>
Photo via Shutterstock.

Markets

DUOL

FTRE

S&P 500 Hits All-Time Highs, Nasdaq 100 Tops 20K Ahead Of Key Economic Data: What's Driving Markets Wednesday?

Wall Street inched higher on Tuesday, with the Nasdaq 100 outperforming other major indices, while cyclical sectors linked to metals and industrial commodities saw strong gains, fueled by a surprise stimulus package <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">from China&#8217;s central bank.</a>
The People&#8217;s Bank of China (PBOC) unveiled a series of aggressive measures, including cuts to the reserve requirement ratio (RRR) for banks and a reduction in the seven-day repo rate, following a recent cut to the 14-day reverse repo rate. These moves are expected to inject roughly $140 billion (1 trillion yuan) into the banking system, providing banks with additional liquidity to boost lending.
Chinese equities skyrocketed on the news, with the iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) soaring over 8%, marking its largest single-day gain since March 2022. 
Commodities followed suit with copper and silver climbing more than 3% each, while gold rose 0.7%, hitting record highs for the fourth consecutive session.
The Nasdaq 100 posted a 0.5% gain, leading U.S. indices, while the S&amp;P 500 remained nearly flat, hovering just shy of its all-time highs. 
The U.S. dollar weakened by 0.4% following a lower-than-expected September consumer confidence report from the Conference Board. This data has bolstered expectations for a potential 50-basis-point rate cut by the Federal Reserve in November.
Treasury yields fell on short-term maturities, while longer-dated yields held steady. Oil prices climbed 1.2%, though concerns about U.S. demand lingered due to the disappointing consumer confidence figures.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.2% failing to join the China-led rally across other risk assets.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,958.91</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,726.37</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,218.10</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,081.24</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.1% to $570.49.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;flattened at $420.90.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.6% to $485.85.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $220.69.</li>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, up 1.2%. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down 1.2%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Chinese stocks rallying Tuesday included Tencent Music Entertainment Group &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) up 14%, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) up over 10%, PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) up 10%, XPeng Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) up 9%, NIO Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) up 8.7% and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) up 9%.</li>
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied nearly 4% amid rising growth prospect in China.</li>
<li>Materials stocks showing the largest gains were MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) up 10%, Freeport McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) up 7.5%, Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) up 7.6%, and Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 7.3%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/09/41007724/gold-breaks-records-on-chinas-policy-stimulus-mining-metal-stocks-exhibit-strongest-1-day-rally-in-2">Gold Breaks Records On China&#8217;s Policy Stimulus: Mining, Metal Stocks Exhibit Strongest 1-Day Rally In 2024</a></li>
</ul>
Photo: Shutterstock

Global

BABA

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SCCO

Select Sector SPDR-Consumer Discretionary

XPEV

Tech Stocks Rise, Materials Sector Rallies On China's Stimulus, Nvidia Surges: What's Driving Markets Tuesday?

General

China's Financial Regulator Says Banks Are Encouraged To Support Loan Renewals For Borrowers Facing Temporary Financial Difficulties; Medium-Sized Firms With Working Capital Loans Due By Sept 30, 2027, May Receive Renewal Support Similar To That Available For Small And Micro Firms

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading higher on Friday. The bank reportedly started internal testing of a new credit card product.
The move comes as a part of plans to expand its offerings to U.K. consumers, <a href="https://www.bloomberg.com/news/articles/2024-09-20/jpmorgan-begins-testing-uk-credit-cards-in-latest-overseas-foray?srnd=homepage-Americas&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reported </a>Bloomberg. The bank&#8217;s senior executives are said to be testing the credit cards within their mobile apps.
A person familiar with the matter said to Bloomberg that the product has been under development for over a year.
The new credit card will be added alongside investment products from JPMorgan&#8217;s digital wealth manager, Nutmeg, on its U.K. retail app, the report noted.
Notably, Nutmeg is the U.K.&#8217;s first and now largest digital wealth manager and serves over 200,000 <a target="_blank" href="https://www.chase.co.uk/gb/en/product/invest-with-nutmeg/" rel="noreferrer noopener">customers</a>, per the company&#8217;s website.
In July, the bank&nbsp;warned its 86 million customers to prepare for potential <a target="_blank" href="https://www.benzinga.com/government/24/07/39645336/largest-consumer-bank-chase-hints-increased-cost-to-consumers-for-everyday-banking-services" rel="noreferrer noopener">new charges on their bank accounts</a>.
This week, as per a report, JPMorgan is reportedly in talks with Apple about taking over its credit card program. The discussions began earlier this year <a target="_blank" href="https://www.benzinga.com/news/24/09/40907844/jpmorgan-in-talks-to-take-over-apple-credit-card-what-investors-need-to-know" rel="noreferrer noopener">and have advanced in recent weeks</a>.
Notably, Goldman Sachs is the current card issuer, but Apple and Goldman decided to part ways last year in their partnership, which included credit cards and savings accounts.
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are down 0.04% at $210.40 at the last check Friday.
Image via Shutterstock

JP Morgan Targets UK With Fresh Credit Card Offering: Report

Wall Street experienced a slightly positive session Tuesday, supported by investor optimism as the Federal Open Market Committee (FOMC) kicked off its two-day meeting, expected to deliver the first interest rate cut in over <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">four years on Wednesday.</a>
The session&#8217;s notable performers were small caps, with the Russell 2000 index surging about 1.3%, targeting its highest close since early August and outperforming larger-cap indices.
Among industries, solar, clean energy and regional banks led gains as traders eyed pockets of the markets that would benefit from lower interest rates.
On the macro front, August retail sales provided an upside surprise, growing by 0.1% month-over-month compared to <a href="https://www.benzinga.com/news/econ-s/24/09/40902634/retail-spending-remains-on-solid-footing-but-fed-must-weigh-rate-cuts-impact-on-workers-says-economi">the expected 0.2% decline</a>. This stronger-than-anticipated data slightly reduced the likelihood of a more aggressive 50-basis-point rate cut, with market-implied probabilities for such a move slipping from 67% to 63%, according to the CME FedWatch Tool.
Short-dated Treasury yields rose as expectations for a substantial rate cut moderated. Meanwhile, the dollar strengthened, gaining 0.2%. 
In the commodities market, gold retreated 0.7% from Monday&#8217;s record-high close. Oil prices increased by 1.3% following escalating geopolitical tensions in the Middle East.
Reports indicate a<a href="https://www.benzinga.com/etfs/specialty-etfs/24/09/40903888/simultaneous-pager-explosions-across-lebanon-leave-over-1-000-hezbollah-militants-wounded"> coordinated attack in Lebanon</a> led to thousands of pagers linked to Hezbollah militants being detonated, resulting in numerous casualties within the Iran-backed organization.
Additionally, Iran&#8217;s ambassador to Lebanon is reportedly injured, though the official responsibility for the attack remains unclaimed.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped over 4%, buoyed by positive ETF inflows, signaling renewed investor interest in the digital asset space as interest rates shift. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,220.44</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,642.79</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,441.83</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,636.05</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091724&amp;t=be2bearmibe3na1">Benzinga Pro</a> platform:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% higher to $563.44.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% up to $417.61.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) also rose 0.1% to $473.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.2% to $220.28.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.2%. The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) surged over 6% after receiving approval from Health Canada for its updated SPIKEVAX COVID-19 vaccine, designed to target the KP.2 sub-lineage of SARS-CoV-2 in individuals aged six months and older.</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) climbed 3.5% following an upgrade from Bank of America, which raised its rating on the stock from Neutral to Buy and increased the price target from $200 to $300.</li>
<li>Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) advanced nearly 5% after Bank of America also upgraded its rating from Neutral to Buy and boosted the price target from $21 to $24.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40904599/stock-of-the-day-will-apple-bring-the-market-down">Stock Of The Day: Will Apple Bring The Market Down?</a></li>
</ul>
The image was created using artificial intelligence MidJourney.

Retail Sales

MRNA

Small Caps, Bitcoin Rally As Traders Await Fed Rate Cut; Treasury Yields, US Dollar Tick Up On Strong Retail Sales: What's Driving Markets Tuesday?

FDIC Board Votes 3-2 To Adopt Bank Merger Guidance

FDIC Board To Vote On Bank-Merger Guidelines At Meeting Tuesday

Tech stocks kicked off the week on the negative note, driven lower by concerns over weaker-than-expected demand for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s <a href="https://www.benzinga.com/news/24/09/40882969/iphone-16-pro-demand-lags-longer-wait-times-globally-china-shows-smaller-gap-analyst">latest iPhone 16 models</a>. 
Shares of Apple tumbled over 3% by midday in New York, heading for their worst session in more than a month. The sell-off in Apple spilled over to chip stocks, with Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) plunging more than 5%.
The broader semiconductor sector, tracked by the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), declined by 2.2%, reflecting widespread apprehension in the industry.
Elsewhere in the market, the S&amp;P 500 edged lower, while the Dow Jones and the Russell 2000 managed to buck the trend, posting modest gains for the day.
Bonds outperformed equities as Treasury yields dropped amid growing expectations of Federal Reserve rate cuts. 
Over the weekend, investor sentiment shifted toward an interest rate cut for the upcoming Sept. 18 meeting, with markets now pricing in a 60% probability of a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883023/how-second-tier-economic-data-tuesday-could-sway-the-feds-rate-decision-it-will-be-">larger 50-basis-point rate cut.</a>
Gold prices extended their gains, rising 0.3% to reach new record highs, marking the third consecutive session of increases. In the energy market, oil prices climbed 0.7%, and natural gas prices surged 4% on a more optimistic demand outlook.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) wasn&#8217;t spared from the sell-off in tech stocks, falling 2.5%.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,490.08</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,192.30</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,621.31</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,377.78</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:15 p.m. ET</figcaption></figure>
According to Benzinga Pro data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% lower to $561.66.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.4% to $416.43.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.8% to $471.63.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.2% to $217.28.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.7%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) jumped 6% after multiple analysts raised their price targets for the stock.</li>
<li>Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) surged over 11% following the appointment of its new CEO, Ford Tamer.</li>
<li>In addition to Arm Holdings, other notable chipmakers that declined on Monday included Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), which fell 5.3%; Wolfspeed Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NASDAQ">WOLF</a>), down 9%; and Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), which slid 7%. </li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was 2% lower. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut">Elizabeth Warren Urges Fed To Slash Rates By 0.75%; Veteran Investor Warns Even 0.5% Cut Could &#8216;Reduce Trump&#8217;s Chances Of Winning&#8217;</a></li>
</ul>
This image was created using artificial intelligence MidJourney.

LSCC

ORCL

QRVO

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

WOLF

Nasdaq 100 Falls As Apple Weighs On Chipmakers; Bonds Rise As Investors Eye 0.5% Rate Cut: What's Driving Markets Monday?

At midday on Thursday, Wall Street was showing slight gains, with small caps leading the charge. The Russell 2000 index surged 1.2%, outperforming large-cap indices <a href="https://www.benzinga.com/news/small-cap">in a notable rebound.</a>
The session kicked off with the release of the August Producer Price Index (PPI), which revealed mixed inflation data, following a slightly hotter-than-expected underlying consumer inflation picture a day earlier. 
However, the PPI report had little impact on market expectations surrounding future Federal Reserve rate cuts, with traders fully pricing in a reduction in the fed funds rate next week.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40700320/jpmorgan-warns-anticipated-rate-cuts-may-not-significantly-boost-stock-markets-fed-will-start-ea">JPMorgan Warns Anticipated Rate Cuts May Not Significantly Boost Stock Markets</a>
Meanwhile, jobless claims remained largely unchanged from the previous week and in line with forecasts, suggesting stability in the labor market. 
Also in line with market expectations, the European Central Bank (ECB) also announced a 25-basis-point cut to the deposit facility rate, lowering it to 3.5%.
The macroeconomic backdrop provided a tailwind for commodities. Gold hit a new all-time high, up 1.7% surpassing $2,550 per ounce, <a href="https://www.benzinga.com/markets/equities/24/09/40838414/gold-miners-eye-best-1-day-rally-in-6-months-as-gold-hits-fresh-record-highs-todays-environment-">boosting mining stocks. </a>
The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) surged 4.3% by midday, marking its strongest session since early March 2024.
Silver prices also saw a strong uptick, rallying 3.8%, which pushed the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) up by more than 5%, positioning it for its best session since December 2023.
Across the broader commodities complex, oil prices climbed 2.4%, while natural gas spiked 4.5%.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was up 1.1%, rebounding after Wednesday&#8217;s slight dip. 
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,132.34</td>
<td>1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,340.93</td>
<td>0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,572.48</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,928.03</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $557.23.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.3% to $410.61.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.6% to $471.53.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.3% to $211.46.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.3%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) was the laggard, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) soared 4.5% after BNP Paribas raised the price target from $58 to $65. </li>
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) plunged over 14% after announcing plans to cut annual R&amp;D spending by approximately $1.1 billion starting in 2027, citing &#8220;recent commercial challenges.&#8221; The company now projects its 2025 revenue to range between $2.5 billion and $3.5 billion, below analyst expectations of $3.9 billion. </li>
<li>Medical Properties Trust, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) rallied by over 17%, fter the medical REIT disclosed a global settlement with tenant&nbsp;Steward Health Care System, its secured lenders, and the&nbsp;Unsecured Creditors Committee.</li>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) fell by about 3.5% after&nbsp;Raymond James&nbsp;lowered its price target on the&nbsp;stock from $160 to $125.</li>
</ul>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40823561/this-under-the-radar-defensive-ai-sector-quietly-outperforms-all-others-despite-rec">This Under-The-Radar Defensive AI Sector Quietly Outperforms All Others, Despite Receiving &#8216;No Love&#8217; From Investors</a></li>
</ul>

Eurozone

Market Vectors ETF Trust Market Vectors Gold Miners

Stocks Edge Up As Producer Inflation Supports Rate Cut Bets, Small Caps, Miners Rally: What's Driving Markets Thursday?

Designed to provide broad exposure to the Financials - Broad segment of the equity market, the Invesco S&amp;P 500 Equal Weight Financials ETF (ARCA:RSPF) is a passively managed exchange traded fund launched on 11/01/2006.
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Financials - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 2, placing it in top 13%.
<h2>Index Details</h2>
The fund is sponsored by Invesco. It has amassed assets over $271.83 million, making it one of the average sized ETFs attempting to match the performance of the Financials - Broad segment of the equity market. RSPF seeks to match the performance of the S&amp;P 500 EQUAL WEIGHT FINANCIALS INDEX before fees and expenses.
The S&amp;P 500 Equal Weight Financials Index equally weights stocks in the financial sector of the S&amp;P 500 Index.
<h2>Costs</h2>
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.40%, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.41%.
<h2>Sector Exposure and Top Holdings</h2>
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund&#39;s holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Financials sector--about 100% of the portfolio.
Looking at individual holdings, Cboe Global Markets Inc (BATS: <a class="ticker" href="https://www.benzinga.com/stock/cboe#BATS">CBOE</a>) accounts for about 1.60% of total assets, followed by Truist Financial Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tfc#NYSE">TFC</a>) and Globe Life Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gl#NYSE">GL</a>).
The top 10 holdings account for about 15.42% of total assets under management.
<h2>Performance and Risk</h2>
So far this year, RSPF has gained about 14.40%, and is up about 29.31% in the last one year (as of 09/12/2024). During this past 52-week period, the fund has traded between $48.10 and $68.77.
The ETF has a beta of 1.05 and standard deviation of 13.82% for the trailing three-year period. With about 72 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
Invesco S&amp;P 500 Equal Weight Financials ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, RSPF is a great option for investors seeking exposure to the Financials ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.
Vanguard Financials ETF (ARCA:VFH) tracks MSCI US Investable Market Financials 25/50 Index and the Financial Select Sector SPDR ETF (ARCA:XLF) tracks Financial Select Sector Index. Vanguard Financials ETF has $9.80 billion in assets, Financial Select Sector SPDR ETF has $43.50 billion. VFH has an expense ratio of 0.10% and XLF charges 0.09%.
<a href="https://www.zacks.com/stock/news/2335011/should-you-invest-in-the-invesco-s-p-500-equal-weight-financials-etf-rspf?cid=CS-BENZ-FT-sector_etf-2335011">To read this article on Zacks.com click here.</a>

Dividends

Analyst Ratings

Trading Ideas

CBOE

RSPF

Should You Invest in the Invesco S&P 500 Equal Weight Financials ETF?

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) aims to expand its Swiss corporate banking business and plans to leverage blockchain services <a href="https://www.benzinga.com/topic/blockchain">to attract new clients</a>.
The company currently has over two dozen active customer relationships and plans to significantly expand in this segment, reported Reuters.
Lutz Karl, who heads the bank&#8217;s business with major corporate clients in Germany, Switzerland and Austria, is also aiming for market share gains in the trade financing business.
He stated, &#8220;We&#8217;re also having a lot of discussions on the subject in Switzerland, and expect to bring the first customers onto the platform in the next few months.&#8221;
Also Read: <a href="https://www.benzinga.com/top-stories/24/09/40804111/jpmorgan-shares-tumble-after-coo-throws-cold-water-on-analyst-outlook" target="_blank" rel="noreferrer noopener">JPMorgan Shares Tumble After COO Throws Cold Water On Analyst Outlook</a>
&#8220;Blockchain technology was presenting opportunities for growth in cash management via payment transactions.&#8221;
Karl said that JPMorgan aims to expand its position within three to five years.
On Wednesday, J.P. Morgan Payments introduced new and enhanced product integrations with the Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) ecosystem, aimed at simplifying and streamlining payments across treasury, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40813449/j-p-morgan-payments-expands-oracle-partnership-to-streamline-payments-across-treasury-trade-and-co" rel="noreferrer noopener">trade, and commerce for clients</a>.
Investors can gain access to the stock via&nbsp;iShares U.S. Financial Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 0.08% at $207.40 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40828224/jpmorgan-ceo-jamie-dimon-said-hed-fire-in-a-second-anyone-caught-trading-bitcoin-when-it-w" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Said He&#8217;d &#8216;Fire In A Second&#8217; Anyone Caught Trading Bitcoin When It Was At $4,000. 7 Years Later, The Investment Bank Holds Positions In Spot ETFs Tracking The Apex Crypto</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

JPMorgan Eyes Market Share Gains In Swiss Corporate Banking: Report

Wall Street witnessed a broad sell-off on Wednesday, except for the tech sector, as investor optimism over disinflation progress cooled following a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">mixed August inflation report.</a>
The Consumer Price Index (CPI) rose 2.5% year-over-year, slightly below the 2.6% estimate and down from July&#8217;s 2.9%, marking the slowest pace of inflation since February 2021. The bulk of this decline came from energy-related categories.
However, core inflation — excluding the more volatile components like food and energy — rose 0.3% month-over-month, surpassing expectations of 0.2%. The annual core CPI remained at 3.2%, reflecting persistent inflation in service-related sectors.
A key driver of inflation continues to be shelter costs, which rose 0.5% from the previous month—the sharpest increase since January — and account for nearly a third of the total CPI.
The report dashed hopes for a Federal Reserve rate cut in the upcoming meeting. Market expectations for a 50-basis-point cut plummeted to just 13%, down from 34% the day before, as per CME FedWatch. 
The inflation data gave the U.S. dollar a lift and nudged Treasury yields higher across the board. Sectors most sensitive to interest rates, such as real estate, materials and financials, led the sell-off.
In contrast, tech stocks defied the broader market slump, driven by strong gains in the semiconductor space. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surged 4.5%, buoyed by the market's reaction to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40817347/donald-trump-lost-debate-to-kamala-harris-will-lose-ground-in-the-polls-polymarket-traders">latest U.S. presidential debate</a> between Vice President Kamala Harris and former President Donald Trump. 
The two candidates engaged in a back-and-forth about <a href="https://www.benzinga.com/general/politics/24/09/40731719/goldman-sachs-kamala-harris-victory-bodes-well-for-us-economy-trump-tariffs-will-drive-up-inflat">tariffs on goods</a>, which would impact inflation and the chipmaking industry.
Solar stocks also rallied, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) jumping over 4%, as the prospect of a Harris administration increased <a href="https://www.benzinga.com/markets/equities/24/09/40817317/solar-shares-climb-as-harris-gains-momentum-post-debate-against-trump-7-top-gainers-in-clean-ene">optimism for renewable energy policies.</a> First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) was the top performer within the industry, jumping over 12%. 
Elsewhere, gold remained flat, while oil prices rebounded over 2% after Tuesday&#8217;s sell-off. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dropped more than 2%.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,865.96</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,476.37</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,092.21</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,436.47</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $547.10.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.7% to $405.59.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $459.93.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $207.30.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) was the laggard, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Lithium-related stocks surged on Wednesday after reports of production disruptions in China sent the price of the commodity climbing. Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), one of the world&#8217;s largest lithium producers, rallied 9.7% on the news.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) surged 8.6% to $93.63 after Bank of America analyst Omar Dessouky reiterated a Buy rating and raised the price target from $100 to $120.</li>
<li>Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) rallied 8.1% amid bullish remarks from Bank of America analyst John Murphy, CFA who expects the Gravity SUV to get a large total addressable market.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) tanked 13.8% as revenue missed expectations last quarter. </li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) plummeted 12.8% in reaction to the presidential debate. </li>
</ul>
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a></li>
</ul>
Image: Shutterstock

Earnings

FSLR

LCID

Stocks Fall As Inflation Data Chills Rate-Cut Excitement, Chipmakers, Solar Sector Soar On Harris-Linked Boost: What's Driving Markets Wednesday?

Did one comment just send JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares <a href="https://www.benzinga.com/markets/equities/24/09/40797360/jpmorgan-hires-new-managing-directors-for-mid-cap-investment-banking-division-report">to fall by 7.5%</a>?
It appears so. JPMorgan Chief Operating Officer Daniel Pinto tempered analyst forecasts on next year&#8217;s expenses and net interest income (NII) at an industry event Tuesday.
The current NII consensus of $89.5 billion is &#8220;not very reasonable&#8221; in the light of interest-rate forecasts, he <a href="https://www.bloomberg.com/news/articles/2024-09-10/jpmorgan-shares-slide-as-pinto-says-analysts-are-too-optimistic?srnd=homepage-americas&amp;sref=TBDibEcD">said</a> according to Bloomberg. NII &#8220;will be lower,&#8221; he added.
As a result, the stock took its biggest tumble since June 2020.
But Pinto wasn&#8217;t the only bank executive who sounded pessimistic this week.
Read Also: <a href="https://www.benzinga.com/top-stories/24/09/40691590/m-t-bank-to-outperform-peers-analyst-says-overhang-fears-could-erode-over-next-several-quarters">M&amp;T Bank To Outperform Peers, Analyst Says: &#8216;Overhang Fears Could Erode Over Next Several Quarters&#8217;</a>
Goldman Sach Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon said Monday the firm&#8217;s trading revenue is on track to drop 10% in the third quarter. At last check Tuesday, the firm&#8217;s stock is down more than 4.3%.
Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is also down over 17.6% at last check. 
The firm confirmed that auto delinquencies and net charge-offs were higher than forecast, sending the stock to its biggest decline since March 2020 while taking consumer lenders Capital One Financial Corp. and Synchrony Financial down with it. 
The 24-firm KBW Bank Index fell 3.5%, even though the Federal Reserve said that it would cut higher proposed capital requirements for the biggest firms in half after industry pushback.
JPMorgan reported NII that missed analysts' estimates for the second quarter as well as higher-than-expected costs. 
Pinto also said Tuesday that expectations for 2025 costs were too balmy, and that third-quarter investment-banking fees could rise 15% while markets revenue increases just 2% to come in below analyst forecasts.
Price Action: JPMorgan fell 5.25% to $205.40 into Tuesday&#8217;s late-afternoon trading.
<ul>
<li>IShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) slipped 1.21%</li>
<li>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) fell 1.06%</li>
<li>iShares U.S. Financials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYF#NYSE">IYF</a>) slid 1.13%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/general/24/08/40656492/high-stakes-innovation-is-ai-in-banking-worth-the-gamble">High-Stakes Innovation: Is AI In Banking Worth The Gamble?</a></li>
</ul>
Image: Shutterstock

ALLY

iShares Dow Jones US Financial Sector Index Fund

JPMorgan Shares Tumble After COO Throws Cold Water On Analyst Outlook

Market Summary

Benzinga Market Summary: Financials Fall Amid Ally Concerns And Basel Re-Proposals, Oil Falls On Demand Outlook Cut, Trump And Harris To Debate At 9:00 p.m. ET

Risk aversion is shaping another tough day for Wall Street, with stocks trading in the red as investors await the presidential debate between Vice President Kamala Harris and former President Donald Trump,<a href="https://www.benzinga.com/general/politics/24/09/40797797/trump-vs-harris-debate-do-voters-want-to-hear-more-about-economy-healthcare-or-bitcoin"> scheduled at 9 p.m. ET. </a>
Energy and financial sectors are witnessing deeper losses, sharply underperforming the rest of the market. 
In the latest monthly report, OPEC revised its global oil demand growth forecasts downward, now expecting 2024 oil demand to increase by 2.03 million barrels per day (bpd), down from the previous estimate of 2.1 million bpd. For 2025, OPEC has trimmed global demand growth forecast to 1.74 million bpd, compared to the earlier projection of 1.78 million bpd.
On the regulatory front, Federal Reserve Board Vice Chair for Supervision Michael Barr announced changes to the BASEL III and GSIB (Global Systemically Important Banks) surcharge proposals, which will now increase capital requirements for the largest banks by 9%, down from the original plan of 19%. Barr also clarified that banks with assets under $250 billion would largely be exempt from these heightened requirements.
Despite this capital relief, financial stocks sank across the board. The financial sector gauge fell 2%, with JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) dropping 7%. The SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) declined 2.6%, reflecting ongoing pressure even on the regional bank industry which is largely exempted from the regulation.
Elsewhere, Treasuries continued to rally. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.6%, hitting its highest levels since late July 2023. 
The Japanese yen gained 0.5%, while both gold and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded broadly flat, reflecting a mixed sentiment in alternative assets.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,667.20</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,458.25</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,509.61</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,081.31</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% lower to $545.43.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.6% to $406.46.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% higher to $454.91.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1% to $206.36.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, up 0.8%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) were the laggards, down 2.1% and 1.9%, respectively.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Worst-performing energy stocks were Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>), APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>) and Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), down 5.1%, 5% and 3.4%, respectively.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) fell over 7% as the company announced it has commenced a public offering of $1.35 billion (27 million shares) of Series C mandatory convertible preferred stock.</li>
<li>Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) rallied 12% on the back of stronger-than-expected quarterly results. </li>
<li>Other stocks reacting to earnings were Rubrik Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) down 5.8% and Academy Sports and Outdoors Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASO#NASDAQ">ASO</a>) up 5.68%.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) will report earnings after the close.</li>
</ul>
Read Also:
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40799429/s-p-500-off-to-a-rough-start-in-september-with-historical-trends-suggesting-more-troub">Stocks Had Worst Start To September Nearly Ever &#8211; Here&#8217;s Why</a></li>
</ul>
Photo: Shutterstock

FANG

RBRK

iShares Trust Barclays 20+ Year Treasury Bond Fund

Wall Street Falls Ahead Of Trump-Harris Debate, Bank Stocks Tumble, Oil Plummets To $65 On Weaker Demand Outlook: What's Driving Markets Tuesday?

Weekly ETF flows: investors pump $19.8B in SPY at the end of Q3

SA Chart: Which S&P 500 sectors performed best in September?

PYPL, SCHW among top S&P 500 financial movers in Q3

Consumer staples with lowest quant rating are worst performers in Q3: DLTR, DG, LW

The financial sector is poised for strong growth, driven by the rising penetration of digital technologies and increasing demand for end-user investments. Thus, to gain exposure to the financial sector, one could consider buying The Financial Select Sector SPDR (XLF), Vanguard Financials Index Fund (VFH), and iShares U.S. Financials (IYF). Read on… The financial services sector is rapidly expanding due to rising demand for insurance and loans, globalization and urbanization driving investments, global economic growth, and the integration of fintech-enabled digital payment solutions.
Given this positive sentiment, adding financial ETFs such as The Financial Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLF/">XLF</a>), Vanguard Financials Index Fund ETF (<a href="https://stocknews.com/stock/VFH/">VFH</a>), and iShares U.S. Financials ETF (<a href="https://stocknews.com/stock/IYF/">IYF</a>) might be a wise choice for a diversified portfolio.
The U.S. financial services industry is being driven by the <a href="https://www.expertmarketresearch.com/reports/us-financial-services-market">growing demand for insurance and loans</a> among consumers. Globalization and urbanization are leading to an increasing demand for end-user investments. The industry is also propelled by global economic growth, leading to the increased demand for financial services.
Moreover, the global banking and financial services market is expected to grow at a <a href="https://www.cognitivemarketresearch.com/banking-and-financial-services-market-report">CAGR of 7.9% from 2023 to 2030</a>. Furthermore, market players are significantly integrating with financial technology-enabled banks to offer modern digital payment solutions, including mobile wallets and contactless payment, which contributes to the segment's growth.
With that in mind, let's look at the fundamentals of the top three <a href="https://stocknews.com/category/financial-equities-etfs/">Financial Equities ETFs</a>, beginning with the third one.
ETF #3: iShares U.S. Financials ETF (<a href="https://stocknews.com/stock/IYF/">IYF</a>)
IYF is an exchange-traded fund launched by BlackRock, Inc. BlackRock Fund Advisors manage it. It invests in stocks of companies operating across financial sectors. It invests in growth and value stocks of companies across diversified market capitalization.
With $3.15 Billion in AUM, its top holdings are Berkshire Hathaway Inc. Class B (<a href="https://stocknews.com/stock/BRK.B/">BRK.B</a>) with a 12.6% weighting, JPMorgan Chase &amp; Co. (<a href="https://stocknews.com/stock/JPM/">JPM</a>) at 9.3%, and Bank of America Corp (<a href="https://stocknews.com/stock/BAC/">BAC</a>) at 4.4% weight.
The ETF's <a href="https://www.investopedia.com/terms/e/expenseratio.asp">expense ratio</a> is 0.39%, compared to the category average of 1.52%. IYF's fund inflows were $17.55 million over the past month. The fund pays an annual dividend of $1.38, which translates to a 1.34% yield at the current price level.
IYF has gained 10% over the past three months to close the last trading session at $103.47. It has a five-year beta of 1.05. The fund's NAV was $103.55 as of September 27, 2024.
IYF's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The ETF's overall A rating equates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The fund has an A grade for Trade and Buy &amp; Hold. IYF is ranked #4 out of 41 in the <a href="https://stocknews.com/category/financial-equities-etfs/">Financial Equities ETFs</a> ETF. <a href="https://stocknews.com/stock/IYF/">Click here</a> to access all the IYF ratings.
ETF #2: Vanguard Financials Index Fund ETF Shares (<a href="https://stocknews.com/stock/VFH/">VFH</a>)
VFH is an exchange-traded fund launched and managed by Vanguard Equity Index Group that tracks the MSCI US IMI 25/50 Financials Index. It is passively managed, holds U.S. financial stocks across all market caps, and uses a market-cap selection and weighting scheme to capture the broader financial market.
With $10.08 billion in AUM, VFH's top holding is JPM, which has an 8.8% weighting in the fund. It is followed by BRK.B at 8.6% and Mastercard Incorporated (<a href="https://stocknews.com/stock/MA/">MA</a>) at 5.5% weighting. The fund has a total of 404 holdings.
VFH has an expense ratio of 0.10%, lower than the category average of 1.52%. The fund has a NAV of $109.58 as of September 27, 2024. The ETF's net inflows were $99.86 million over the past three months.
VFH pays a $1.95 annual dividend yielding 1.78% at the prevailing price level. The fund's dividend payouts have grown at a CAGR of 5.6% over the past five years. Also, VFH has raised its dividends for three consecutive years.
VFH has gained 9.8% over the past three months and 18.6% over the past nine months to close the last trading session at $109.29.
VFH's POWR Ratings reflect solid prospects. Its overall rating of A equates to a Strong Buy in our proprietary rating system.
VFH has an A grade for Buy &amp; Hold and Trade. Of the 41 ETFs in the same group, it is ranked #2. Get all VFH ratings <a href="https://stocknews.com/stock/VFH/">here</a>.
ETF #1: The Financial Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLF/">XLF</a>)
XLF provides efficient exposure to the U.S. financials segment. Its cap-weighted, S&amp;P 500-only portfolio concentrates on large banks and avoids small caps. It invests in companies from industries like diversified financial services, insurance, commercial banks, and capital markets. The fund tracks the Financial Select Sector Index.
The fund has an AUM of $41.57 billion. Its top holdings include BRK.B with a 13.32% weighting, followed by JPM at a 9.61% weighting, and Visa Inc. (<a href="https://stocknews.com/stock/V/">V</a>) at 7.24%. XLF has a total of 73 holdings.
The fund has an expense ratio of 0.09%, lower than the category average of 1.52%. Over the past six months, XLF fund inflows came in at $649.22 million.
XLF pays an annual dividend of $0.66, which translates to a yield of 1.47% at the current share price. Its dividend payouts have grown at a CAGR of 3.35% over the past five years.
XLF has surged 7.2% over the past six months and 35.1% over the past year to close the last trading session at $44.86. The fund has a NAV of $45.92 as of September 27, 2024.
XLF's POWR Ratings reflect its strong outlook. The ETF has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
XLF has an A grade for Buy &amp; Hold and Trade. The fund has topped the list of 41 ETFs in the same group.
To access all the POWR Ratings for XLF, <a href="https://stocknews.com/stock/XLF/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
IYF shares were trading at $103.35 per share on Monday afternoon, down $0.12 (-0.12%). Year-to-date, IYF has gained 22.22%, versus a 21.23% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/iyf-vfh-xlf-3-financial-etfs-to-buy-for-a-diversified-portfolio/>3 Financial ETFs to Buy for a Diversified Portfolio</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Financial ETFs to Buy for a Diversified Portfolio

U.S. Banks Have Huge Exposure To Asian Commercial Real Estate Issues

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Thursday, October 3.

SPDR ETF Report For Thursday, Oct 3

The S&P 500 moved higher today to finish out the week basically unchanged.

Risk Is Building With Markets Trapped In A Range

S&P 500 ekes out weekly gain as blowout jobs report offsets Middle East worries

BITI

COPX

COST

DELL

DLTR

ERIE

FSTA

IBIT

KVUE

MDLZ

MKTX

PYPL

RSPC

RSPD

RSPG

RSPH

SCHW

SPXU

TROW

TSLA

UPRO

WYNN

ダウ工業株30種平均は0.7％低下し、19,076.80ポイント、S&amp;P 500 は5,348.59ドル（0.2％減）となり、ナスダック総合株価指数は38,578.53ドル（0.7％減）で推移しています。
市場全体の下落にもかかわらず、テクノロジー株重視のナスダック100は、アップル（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>）の強い株価値上がりによって損失を免れました。ナスダック100は0.0％となっています。米国時間６月22日の日中取引で、アップルの株価は値上がりし、1株につき149.15ドルで取引されています。 カリフォルニア州クパチーノに本社を置くiPhone製造会社の株価は5.9％上昇し、4か月ぶりの高値を記録しました。この数日の先行エントリーは、火曜日に開催されたWWDC（Appleの開発者向けカンファレンス）のイベントに続くものです。
ダウを構成する銘柄は0.7％減少しましたが、スモールキャップ株は1％減少しています。米国債の利回りはほとんど変わらず、10年債利回りは4.46％のままです。
コモディティ市場では、金は0.2％、銀は1.9％下落し、一方でウェストテキサス中級原油（WTI）の相場は１バレル77ドルで横ばいです。
ビットコイン（暗号資産：<a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）はこの日最大の下落率を記録し、66500ドルまで4％以上下落し、4月下旬以来の最も低い株価を記録しています。
<h3 class="wp-block-heading">主要米国株指数ETFの今日の動き</h3>
<figure class="wp-block-table is-style-stripes">
<table>
<tbody>
<tr>
<td>主要指数</td>
<td>価格</td>
<td>日中騰落率</td>
</tr>
<tr>
<td>ナスダック100</td>
<td>19,076.80</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,348.59</td>
<td>-0.2%</td>
</tr>
<tr>
<td>ダウ工業株</td>
<td>38,578.53</td>
<td>-0.7%</td>
</tr>
<tr>
<td>ラッセル2000</td>
<td>2,018.79</td>
<td>-1.0%</td>
</tr>
</tbody>
</table><figcaption class="wp-element-caption">米国東部時間12:55に更新</figcaption></figure>
<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>のデータによれば：
<ul>
<li> SPDR S&amp;P 500 ETF トラスト（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>）が534.10ドル（0.3％減）で推移しました。</li>
<li> SPDR ダウ工業株 ETF（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>）が0.7％低下し、1株当たり386.43ドルで取引されています。</li>
<li>投資信託（ETF）部門では、Invesco QQQ トラスト（ARCA：QQQ）が464.60ドルの水準を維持しています。</li>
<li>部門別では、テクノロジーをテーマにしたSelect Sector SPDR Fund（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>）の株価は1％上昇し、ファイナンシャルをテーマにしたSelect Sector SPDR Fund（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>）の株価は1.5％下落しました。</li>
</ul>
<h3 class="wp-block-heading">その他の株式動向</h3>
<ul>
<li>FMC Corp.（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>）の株価は最高経営責任者兼社長に前任者が復帰したことで3.5％上昇しました。</li>
<li>NextEra Energy Inc（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>）の株価は6.7％下落し、1株あたり196.16ドルで取引されています。同社は弱い業績見通しを発表した結果、2023年10月以来の最悪の日中取引を予測しています。</li>
<li>State Street Corp.（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>）とBlackRock Inc.（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>）の株価はそれぞれ4.5％減と1.7％減となりました。これは、米国議会の委員会が環境に関連した共謀を画策していると発表したウォールストリート最大の企業に対する告発があったためです。</li>
<li>Affirm Holdings Inc. （NASDAQ：<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>）の株価は8％以上上昇し、1株あたり57.79ドルで取引されました。これはアップルが今年後半に同社の製品をApple Payに含めることを発表した後の動きです。</li>
<li>DXC Technology Company（NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXC#NYSE">DXC</a>）は、Apollo Global ManagementとKyndryl Holdingsからの買収提案を受けて11.5％上昇しました</li>
</ul>
今すぐ読む： <a href="https://www.benzinga.com/markets/equities/24/06/39272106/affirm-soars-after-apple-partnership-announcement-what-it-means-for-users">アップルとの提携発表後、Affirmの株価が飛躍：ユーザーにとって意味すること</a>

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