Stephen H Akin, Founder and Investment Adviser Representative
Many of you will remember my interview with Kate Stalter of US News & World Report just before the new year!
In that interview I discussed the importance of financials participating in any further market moves higher.
The financial sector did indeed move broadly higher as the markets have moved higher!
What Financial Advisors Should Know About the Coronavirus relief package.
By Kate Stalter, Contributor Dec. 28, 2020, US News & World Report Money
Stephen Akin, Registered Investment Advisor at Akin Investments:
The extension of the PPP will help those small businesses that have managed to survive to this point. The financials will benefit from this reinforced funding for the PPP. It is interesting that the financials have firmed up a bit in the market. It would be a positive if that sector would finally begin to lead as the market works higher.”
Let's take a look at the XLF the Financial Select Sector SPDR Fund
The XLF the Financial Select Sector SPDR Fund trades on the New York Stock Exchange.
This fund represents a broad measure
of the financial sector and includes holdings of MorganStanley, Goldman Sacs, JP Morgan, Bank of America and more.
We will find that the past 90 day Performance is up 16.02% since our overall positive opinion of the sector appeared in late December.
This story also appeared in Yahoo News and WTOP Radio.
Qwick Takes: What will the stimulus package mean for the U.S. economy?
MADELYNNE KISLOVSKY
Stephen Akin, Registered Investment Advisor at Akin Investments:
The extension of the PPP will help those small businesses that have managed to survive to this point. The financials will benefit from this reinforced funding for the PPP. It is interesting that the financials have firmed up a bit in the market. It would be a positive if that sector would finally begin to lead as the market works higher.
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