Sector Update: Financial

MT newswire2026/08/28 12:56

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08:56 AM EDT, 08/28/2026 (MT Newswires) -- Financial stocks were steady pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) flat. The Direxion Daily Financial Bull 3X Shares (FAS) fell by 0.1%, and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was flat. Affirm (AFRM) shares were up more than 11% after the company reported overnight a surge in fiscal Q4 earnings and revenue, and issued an upbeat fiscal Q1 revenue outlook.

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Waller is under pressure to respond to a core issue: Is current inflation truly a problem? If so, how should it be addressed? On Thursday, some of Waller’s colleagues expressed their ongoing concerns over the inflation situation in the United States. Data released by the U.S. government on Wednesday showed that the annual inflation rate in July remained unchanged, staying significantly above the Federal Reserve’s 2% target for the 65th consecutive month. The Fed’s preferred measure to gauge und

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U.S. pharmaceutical stocks declined, with BioNTech (BNTX.US) dropping 11%, marking its largest intraday loss since March 10, after the company announced the termination of its Phase II colorectal cancer clinical trial. Moderna (MRNA.US) fell 5%, and Merck (MRK.US) dropped 1.3%.

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The Dow Jones opened up 0.08%, the Nasdaq fell 0.1%, and the S&P 500 rose 0.05%. Among major tech stocks, Amazon rose 0.8%, Intel fell 1.98%, and Super Micro Computer declined 0.87%. The Nasdaq Golden Dragon China Index rose 0.34%, XPeng increased 2.29%, and iQIYI gained 1.73%.

智通财经•2026/08/28 13:42