SPDR Select Sector Fund - Financial (ARCA: XLF)

SPDR Select Sector Fund - Financial (ARCA:XLF), Quote.Headers.trade-ideas

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

Hold Off On Credit Checks

Equities

Large Cap

News

Media

AAPL

iShares Trust Dow Jones US Financial Services Index Fund

JPMorgan reportedly starts testing new UK credit card, expanding offerings to UK consumers. Discussions with Apple to take over its credit-card program.

JP Morgan Targets UK With Fresh Credit Card Offering: Report

Wall-Street-ai5

Macro Economic Events

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Retail Sales

Small Cap

Econ #s

Economics

Federal Reserve

Tech

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

MRNA

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 four year

Small Caps, Bitcoin Rally As Traders Await Fed Rate Cut; Treasury Yields, US Dollar Tick Up On Strong Retail Sales: What&#39;s Driving Markets Tuesday?

stock market ai

Bonds

Commodities

LSCC

NVDA

ORCL

QRVO

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

WOLF

XLRE

Tech stocks kicked off the week on the negative note, driven lower by concerns over weaker-than-expected demand for Apple Inc. (NASDAQ:AAPL)’s latest iPhone 16 mo

Nasdaq 100 Falls As Apple Weighs On Chipmakers; Bonds Rise As Investors Eye 0.5% Rate Cut: What&#39;s Driving Markets Monday?

INVESCO FINANCIAL S&P US SECTOR  ETF

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

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.

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.

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

Global

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>

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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:
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<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.
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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>
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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>
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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>
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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:
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<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

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iShares Trust Barclays 20+ Year Treasury Bond Fund

Select Sector SPDR-Consumer Discretionary

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

- Barclays 22nd Annual Global Financial Services Conference

Bank Of America CEO Sees Investment Banking Revenue Of Nearly $1.2B In Q3, Roughly Same As Last Year; Sees Q3 Trading Revenue Up In The Low Single Digit Percentage Range Vs Last Year

- Barclays 22nd Annual Global Financial Services Conference
&nbsp;
&nbsp;

Bank Of America CEO Says Middle Market Investment Banking Growing At Double Digit Pace; Says Loan Demand Is Okay, Not Falling

Bank Of America CEO Brian Moynihan Says Credit Quality Is Fine; Says Seeing Stability In Loan Balances For Small Businesses

JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has reportedly appointed Humberto Garcia-Salas and Andrew Redmond as managing directors in its Mid-Cap Investment Banking division.
The move reflects its aim to bolster its investment banking segment, reported Reuters.
Garcia-Salas, who is a former JPMorgan executive, re-joins the bank from Greenhill &amp; Co., where he spent nearly eight years, most recently as managing director. Redmond, a managing director at Guggenheim Partners, will join the bank later this year.
As per the report, last week JPMorgan also named Andrew Castaldo and Andrew Martin as co-heads of the mid-cap mergers and acquisitions unit.
In July, JP Morgan appointed Nazim Ali to lead Asia tech vertical in private bank, enhancing regional <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39596027/jp-morgan-appoints-nazim-ali-to-lead-asia-tech-vertical-in-private-bank-expansion-report" rel="noreferrer noopener">tech entrepreneur engagement</a>.
In August, JP Morgan faced a lawsuit for allegedly placing customers&#8217; idle cash in <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40576740/jpmorgan-sued-for-allegedly-profiting-from-customers-idle-cash-report" rel="noreferrer noopener">accounts with low interest rates</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 down 6.4% at $202.85 at the last check Tuesday.
Photo by Katherine Welles on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40408996/jamie-dimon-supports-warren-buffett-rule-of-taxing-the-rich-he-says-it-will-fix-americas-debt-proble" target="_blank" rel="noreferrer noopener">Jamie Dimon Supports &#8216;Warren Buffett Rule&#8217; Of Taxing The Rich, He Says It Will Fix America&#8217;s Debt Problem — &#8216;I Would Spend The Money That Helps Make It A Better Country&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Management

JPMorgan Hires New Managing Directors For Mid-Cap Investment Banking Division: Report

Fed's Barr Says He Expects Regulators Will Finalize Long-Term Debt Rule For Banks 'Relatively Soon'

Fed's Barr Says He Expects Basel Overhaul Will Have 'Broad Support' From Fed Board

Fed's Barr Says Will Propose Updating GSIB Surcharge To Account For Changes In Inflation And Economic Growth Under New Proposal; New Basel Draft Would Revise All Major Areas Of Original Plan, Including Operational, Market And Credit Risk Following Industry Criticism

Fed's Barr Says Basel And GSIB Surcharge Re-Proposals Would Together Increase Capital For GSIBs By 9%, Original Plan Had Raised Their Capital By 19%; He Will Recommend Regulators Re-propose 'Basel Endgame' And Global Systemically Important Banks Surcharge Bank Capital Rules; Changes To Basel Re-Proposal Would Exempt Banks Under $250B In Assets From Most New Requirements Except For Recognizing Unrealized Gains And Losses Of Securities

XLF: Are Rate Cuts Good Or Bad?

The Fed slashed interest rates by 50 basis points today… while saying they intended to run a "rather restrictive policy". The reaction was fairly muted - a lot of this has been baked in.

The Fed Fumbles… And Hands Us Huge Opportunities

Understanding The Potential Effects Of Tax Policy On Corporate Earnings

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Thursday, September 19.

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SPDR Select Sector Fund - Financial

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SPDR Select Sector Fund - Financial (ARCA:XLF), Quote.Headers.trade-ideas