The State Street Financial Select Sector SPDR ETF XLF gained 5.23% during the month, outperforming the S&P 500 (SP500)’s 1.40% decline, as investors assessed third-quarter earnings. However, the sector ranked seventh among the 11 S&P 500 sectors.
Seeking Alpha analyst Ian Bezek, Investing Group Leader for Ian’s Inside Corner, said artificial intelligence (AI) was arguably the decisive factor behind much of the sector’s outperformance, as sharp declines in AI-related stocks prompted capital to rotate into other areas, including financials.
Financial Sector Scorecard
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Sector Return: +5.23%
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S&P 500 Return: -1.40%
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Best Performer: Cboe Global Markets
CBOE (+21.05%)
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Worst Performer: Coinbase Global
COIN (-24.17%)
Top financial sector performers of…







