Rochester, NY 8/14/2009 4:44:16 PM
Financial Select Sector SPDR, XLF - Financial sector continue to have better market gains after Federal Reserve statement
Financial Select Sector SPDR
U.S. financial stocks trades higher last Wednesday, erasing some of the company’s market losses of the previous two sessions. This is soon after Federal Reserve assured in keeping interest rates at rock-bottom levels even if there were signs of improvement in the economy.
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"With low interest rates, lower home prices and a first-time buyer tax credit, we've been seeing healthy increases in home sales, which are a hopeful sign for the economy," said NAR Chief Economist Lawrence Yun.
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