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Financials Snap ETF Losing Streak
Posted on July 13, 2012 at 16:01 PM EDT
Major exchange traded funds snapped a week-long losing streak Friday as financials rallied. That followed banks' earnings releases. It also came amid investors' speculation that China will boost economic stimulus. Financial Select Sector SPDR (XLF) outpaced all sectors in the S&P 500, surging 2.45%. Financials are slated to post a 51% year-over-year earnings increase in the second quarter -- the most of any S&P sector, according to Thomson Reuters
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