Sector Update: Financial

Last Updated: Wednesday, August 17, 2022 3:33 PM | MT Newswires

Financial stocks were lower in afternoon trading, with the NYSE Financial Index falling 0.9% and the SPDR Financial Select Sector ETF (XLF) off 0.6%. The Philadelphia Housing Index was climbing 1.5% and the SPDR Real Estate Select Sector ETF (XLRE) was slipping 0.4%. In company news, Top Financial Group (TOP) fell 12% after the online broker reported a $0.12 per share for its FY22 ended March 31, down from $0.17 per share during the previous year, while revenue declined 53.8% year-over-year to $7.8 million. Analyst estimates were not available.

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