XLF - Sector Watch: Financials set to report after clearing major technical resistance

October, 11 2020 11:57 AM SPDR Select Sector Fund - Financial

Financial earnings will dominate the current week as the sector tries to break out of its malaise that made it an underperformer throughout the summer’s recovery rally.JPMorgan Chase (JPM) and Citigroup (C) will report results ahead of the bell Tuesday. Goldman Sachs (GS), Bank of America (BAC), Wells Fargo (WFC) and U.S. Bancorp (USB) will weigh in on Wednesday premarket. Morgan Stanley (MS) and Charles Schwab (SCHW) report earnings Thursday and BNY Mellon (BK) and State Street (STT) issue numbers Friday.Trading revenue and credit loss estimates, which will give an indication of the pace of the economic recovery, will be in focus.The SPDR Financial Sector ETF (XLF) had a comparatively good run last week amid all the volatility caused by stimulus optimism and pessimism, rising 3.8%. All but three components finished the week in the green, with SVB Financial (SIVB), State Street and Invesco (IVZ) in the lead. M&A speculation also

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Sector Watch: Financials set to report after clearing major technical resistance

Company Name:	SPDR Select Sector Fund - Financial
Stock Symbol:	XLF
Market:	NYSE

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