Sector Update: Financial

Last Updated: Wednesday, January 19, 2022 3:34 PM | MT Newswires

Financial stocks added to their afternoon slide, with the NYSE Financial Index dropping 0.9% in late trade while the SPDR Financial Select Sector ETF (XLF) was down 1.1%. The Philadelphia Housing Index was falling 1.5% and the SPDR Real Estate Select Sector ETF (XLRE) was down 0.3%, giving back a small, midday advance. In company news, SoFi Technologies (SOFI) rose almost 16% after the online financial services company late Tuesday said the Office of the Comptroller of the Currency and the Federal Reserve have signed off on its plans to become a bank holding company through its acquisition of Golden Pacific Bancorp.

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