Comments From Chairman Sheila Bair Help Lift Financial ETFs
“The financial sector helped set the pace for the overall market’s gains Monday as banks were rising following reports that Federal Deposit Insurance Corp. Chairman Sheila Bair has told lawmakers she opposes a Senate plan that would force banks to spin off their derivatives units,” MarketWatch Reports.
They go on to report, “The Financial Select Sector SPDR Fund (NYSE:XLF) and the SPDR KBW Bank ETF (NYSE:KBE) both added more than 1% after the Commerce Department said consumer spending rose in March and as investors also reacted to news that Greece has accepted a bailout.”
“Shares of Goldman Sachs Group Inc. (NYSE:GS) were up over 2% after Berkshire Hathaway Inc.(NYSE:BRK.A) (NYSE:BRK.B) chief Warren Buffett said he isn’t concerned by the Securities and Exchange Commission’s case against the company and that he supports Goldman’s CEO Lloyd Blankfein. Berkshire has a $5 billion investment in Goldman. Keefe, Bruyette & Woods on Monday downgraded Goldman shares to market perform from outperform,” MarketWatch Reports.
“As long as [the] SEC’s civil lawsuit and a possible criminal probe remain underway, and Goldman Sachs remains the lightening rod for populist and congressional anger against Wall Street, it will be difficult for the stock to come close to recognizing its inherent value,” KBW analyst Robert Lee said in a note.
See more details: HERE
Here are some details on the Financial Select Sector SPDR ETF (NYSE:XLF):
Financial Select Sector SPDR Fund (NYSE:XLF)
The Financial Select Sector SPDR® Fund, before expenses, seeks to closely match the returns and characteristics of the Financial Select Sector Index (ticker: IXM). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
| Fund Name: | Financial Select Sector SPDR Fund | |||
| Ticker Symbol: | XLF | |||
| Holdings: | As Of 04/30/2010 | |||
| Name | Weight | Ticker | Sector | Shares Held |
| Bank Of America Corporation | 10.12 | (BAC) | Financials | 39337480 |
| Wells Fargo & Co New | 9.7 | (WFC) | Financials | 20314760 |
| Jpmorgan Chase & Co | 9.57 | (JPM) | Financials | 15579082 |
| Berkshire Hathaway Inc Del | 7.21 | (BRK.B) | Financials | 6489087 |
| Citigroup Inc | 4.86 | (C) | Financials | 77060070 |
| Goldman Sachs Group Inc | 4.32 | (GS) | Financials | 2063994 |
| American Express Co | 3.12 | (AXP) | Financials | 4692549 |
| Us Bancorp Del | 2.9 | (USB) | Financials | 7504005 |
| Morgan Stanley | 2.39 | (MS) | Financials | 5481800 |
| Bank Of New York Mellon Cor | 2.13 | (BK) | Financials | 4737504 |
| Metlife Inc | 2.11 | (MET) | Financials | 3212437 |
| Pnc Finl Svcs Group Inc | 1.97 | (PNC) | Financials | 2027120 |
| Prudential Finl Inc | 1.67 | (PRU) | Financials | 1823630 |
| Travelers Companies Inc | 1.47 | (TRV) | Financials | 2014086 |
| Simon Ppty Group Inc New | 1.46 | (SPG) | Financials | 1137364 |
| Aflac Inc | 1.35 | (AFL) | Financials | 1839499 |
| Bb&T Corp | 1.3 | (BBT) | Financials | 2709728 |
| Cme Group Inc | 1.24 | (CME) | Financials | 261258 |
| State Str Corp | 1.22 | (STT) | Financials | 1942380 |
| Capital One Finl Corp | 1.12 | (COF) | Financials | 1785685 |
| Schwab Charles Corp New | 1.07 | (SCHW) | Financials | 3833413 |
| Allstate Corp | 0.99 | (ALL) | Financials | 2105433 |
| Chubb Corp | 0.98 | (CB) | Financials | 1288628 |
| Franklin Res Inc | 0.97 | (BEN) | Financials | 581738 |
| Price T Rowe Group Inc | 0.84 | (TROW) | Financials | 1015987 |
| Suntrust Bks Inc | 0.84 | (STI) | Financials | 1959382 |
| Progressive Corp Ohio | 0.76 | (PGR) | Financials | 2635241 |
| Northern Tr Corp | 0.75 | (NTRS) | Financials | 948232 |
| Loews Corp | 0.75 | (L) | Financials | 1391377 |
| Public Storage | 0.74 | (PSA) | Financials | 532252 |
| Vornado Rlty Tr | 0.74 | (VNO) | Financials | 618512 |
| Marsh & Mclennan Cos Inc | 0.73 | (MMC) | Financials | 2088263 |
| Equity Residential | 0.72 | (EQR) | Financials | 1105474 |
| Hartford Finl Svcs Group In | 0.72 | (HIG) | Financials | 1739957 |
| Fifth Third Bancorp | 0.67 | (FITB) | Financials | 3119659 |
| Ameriprise Finl Inc | 0.67 | (AMP) | Financials | 1002454 |
| Aon Corp | 0.64 | (AON) | Financials | 1046382 |
| Boston Properties Inc | 0.62 | (BXP) | Financials | 545480 |
| Host Hotels & Resorts Inc | 0.6 | (HST) | Financials | 2560839 |
| Regions Financial Corp New | 0.6 | (RF) | Financials | 4679322 |
| Invesco Ltd | 0.56 | (IVZ) | Financials | 1682382 |
| Hcp Inc | 0.53 | (HCP) | Financials | 1152964 |
| Principal Finl Group Inc | 0.53 | (PFG) | Financials | 1253456 |
| Lincoln Natl Corp Ind | 0.52 | (LNC) | Financials | 1186004 |
| Intercontinentalexchange In | 0.49 | (ICE) | Financials | 288850 |
| Nyse Euronext | 0.48 | (NYX) | Financials | 1024054 |
| Avalonbay Cmntys Inc | 0.48 | (AVB) | Financials | 319885 |
| Discover Finl Svcs | 0.48 | (DFS) | Financials | 2132968 |
| Unum Group | 0.46 | (UNM) | Financials | 1304195 |
| Genworth Finl Inc | 0.46 | (GNW) | Financials | 1919232 |
| Keycorp New | 0.45 | (KEY) | Financials | 3445575 |
| Ventas Inc | 0.42 | (VTR) | Financials | 614830 |
| Comerica Inc | 0.41 | (CMA) | Financials | 682892 |
| M & T Bk Corp | 0.41 | (MTB) | Financials | 325959 |
| Plum Creek Timber Co Inc | 0.37 | (PCL) | Financials | 638887 |
| Hudson City Bancorp | 0.36 | (HCBK) | Financials | 1859220 |
| Kimco Realty Corp | 0.36 | (KIM) | Financials | 1587856 |
| Prologis | 0.35 | (PLD) | Financials | 1860595 |
| Xl Cap Ltd | 0.34 | (XL) | Financials | 1342254 |
| Slm Corp | 0.34 | (SLM) | Financials | 1901866 |
| Peoples United Financial In | 0.33 | (PBCT) | Financials | 1457106 |
| Health Care Reit Inc | 0.31 | (HCN) | Financials | 485085 |
| American Intl Group Inc | 0.3 | (AIG) | Financials | 529435 |
| Legg Mason Inc | 0.29 | (LM) | Financials | 637999 |
| Moodys Corp | 0.28 | (MCO) | Financials | 771372 |
| Huntington Bancshares Inc | 0.27 | (HBAN) | Financials | 2810798 |
| Leucadia Natl Corp | 0.27 | (LUK) | Financials | 744503 |
| Marshall & Ilsley Corp New | 0.27 | (MI) | Financials | 2066281 |
| Cb Richard Ellis Group Inc | 0.26 | (CBG) | Financials | 1060610 |
| Cincinnati Finl Corp | 0.26 | (CINF) | Financials | 639274 |
| Torchmark Corp | 0.25 | (TMK) | Financials | 325070 |
| Zions Bancorporation | 0.24 | (ZION) | Financials | 589006 |
| Assurant Inc | 0.24 | (AIZ) | Financials | 457172 |
| E Trade Financial Corp | 0.18 | (ETFC) | Financials | 7472371 |
| First Horizon Natl Corp | 0.18 | (FHN) | Financials | 883808 |
| Nasdaq Omx Group Inc | 0.18 | (NDAQ) | Financials | 580703 |
| Apartment Invt & Mgmt Co | 0.15 | (AIV) | Financials | 459640 |
| Janus Cap Group Inc | 0.15 | (JNS) | Financials | 719585 |
| Federated Invs Inc Pa | 0.12 | (FII) | Financials | 348469 |
| State Str Instl Liquid Resvs | 0.02 | 85749P9A | Unassigned | 1596092 |
| U.S. Dollar | 0.01 | CASH_USD | Unassigned | 384837 |
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