XLF - SVB stock strength could help regional banks buck financials slide: At the Open

The Financials sector continued to struggle premarket, but SVB Financial ([[SIVB]], +3.8%) is one of the best performers ahead of trading, giving some hope to regional banks as reflation trade enthusiasm wanes.SVB, the parent of Silicon Valley Bank, said Q4 loans grew and credit remained stable. It posted GAAP EPS of $7.40, a whopping $3.58 above the consensus estimate. Revenue of $1.21B was up nearly 43% from the year-ago period, also topping forecasts.The SPDR Financial Sector ETF ([[XLF]], -1%) is down before the bell and could be in for more short-term losses as the reflation trade that benefited from stimulus funds anticipation is seeing a sell-the-news reaction after President Joe Biden’s inauguration.There are already comments coming from moderate Republicans that a big stimulus package isn’t needed, while the market is also coming to terms with new regulation coming from the White House and the size of the task and getting vaccines delivered to

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SVB stock strength could help regional banks buck financials slide: At the Open