Rochester, NY 7/15/2009 9:14:06 PM
XLF - Financial ETFs Up on Rosier Bank Outlook
Financial Select Sector SPDR
Financial Select Sector SPDR, XLF
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Financial stocks led a rally Monday that resulted in a triple-digit gain for the Dow ahead of major earnings reports. The Financial Select Sector SPDR fund (XLF: 12.01*, +0.25, +2.12%) was among the most heavily-traded tickers, closing up 6.4%. Major indexes broke out of a see-saw morning after influential bank analyst Meredith Whitney upgraded Goldman Sachs (GS: 150.90*, +1.24, +0.82%) to a Buy and said Bank of America (BAC: 13.13*, +0.22, +1.70%) shares looked cheap relative to the company’s tangible book value.
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