Financials beat the tape in October but only ranked seventh of 11 S&P 500 sectors. $XLF gained 5.23% while the S&P 500 fell 1.40%, as an AI shift lifted $CBOE and the crypto rout hit $COIN. That is di

What happened: The State Street Financial Select Sector SPDR ETF (XLF) rose 5.23% in October while the S&P 500 (SP500) fell 1.40%, as investors assessed third-quarter earnings. Key numbers: XLF gained 5.23%; S&P 500 declined 1.40%; the sector ranked seventh among 11 S&P 500 sectors. Why it matters: An analyst said declines in AI-related stocks prompted capital to rotate into financials, with Cboe and other data and insurance businesses benefiting from increased options activity. Crypto stocks and brokerages fell amid weaker risk appetite and reported cyberattacks.

The State Street Financial Select Sector SPDR ETF (XLF) rose 5.23% in October while the S&P 500 (SP500) fell 1.40%, as investors assessed third-quarter earnings.

An analyst said declines in AI-related stocks prompted capital to rotate into financials, with Cboe and other data and insurance businesses benefiting from increased options activity. Crypto stocks and brokerages fell amid weaker risk appetite and reported cyberattacks.