Financial ETFs Fall On Weak Jobs Data As Fed Eyed

Otmane El Rhazi from Investor's Business Daily - ETFs RSS.

Financial sector ETFs stumbled hard Friday on a mixed jobs report. Benchmark ETFs reversed sharply as investors weighed the implications of slower job growth on the timing of the Federal Reserve's normalization of interest rates. However, a decline in joblessness and signs of wage growth may keep the case for a rate hike alive. The financial sector is especially sensitive to monetary policy. For banks and insurers, rising rates tend to mean higher