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April 17, 2020, 1:31 p.m. EDT

Financial ETFs rise on hopes of a return to normal economic activity

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By Andrea Riquier

Exchange-traded funds that track the financial sector rose on Friday, buoyed by hopes that economic activity might get back to normal soon. The Financial Select Sector SPDR Fund /zigman2/quotes/209660484/composite XLF -0.20% and the Vanguard Financials ETF /zigman2/quotes/204539969/composite VFH -0.33% were both up more than 4% in afternoon trade, while the SPDR S&P Regional Banking ETF /zigman2/quotes/200108291/composite KRE -0.74% , with more direct exposure to consumers, popped 9.1%. "A relief rally remains in play," economist David Rosenberg wrote of financials. But he and other analysts aren't sure markets are out of the woods yet. Technical indicators suggest financials may stay where they are for some time, Rosenberg added, "before sustainable upside is able to set in." Among funds that track the sectors of the S&P 500, XLF is the second-worst performer in the year to date, down 30%.

US : U.S.: NYSE Arca
$ 24.68
-0.05 -0.20%
Volume: 61.71M
Sept. 18, 2020 4:00p
US : U.S.: NYSE Arca
$ 59.65
-0.20 -0.33%
Volume: 628,468
Sept. 18, 2020 4:00p
US : U.S.: NYSE Arca
$ 37.60
-0.28 -0.74%
Volume: 8.62M
Sept. 18, 2020 4:00p

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