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2021-08-29

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Financial stocks overtake tech as the big buyback sector, BofA says: At the Open

Financial stocks got an "alpha signal" and could be set to outperform the S&P(SP500)(NYSEARCA:SPY)in

Financial stocks overtake tech as the big buyback sector, BofA says: At the Open

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Financials were on top with the sixth-largest inflows on record. <a href=\"https://laohu8.com/S/XLK\">Technology Select Sector SPDR Fund</a> (NYSEARCA:XLK), <a href=\"https://laohu8.com/S/XLV\">Health Care Select Sector SPDR Fund</a> (NYSEARCA:XLV), Consumer Discretionary(NYSEARCA:XLY)and Consumer Staples(NYSEARCA:XLP)had net selling.</li>\n <li>Excluding buybacks, <a href=\"https://laohu8.com/S/XLC\">The Communication Services Select Sector SPDR Fund</a> (NYSEARCA:XLC), <a href=\"https://laohu8.com/S/XLB\">Materials Select Sector SPDR Fund</a> (NYSEARCA:XLB)&nbsp;and <a href=\"https://laohu8.com/S/XLE\">Energy Select Sector SPDR Fund</a> (NYSEARCA:XLE)&nbsp;led inflows.</li>\n <li>This morning,&nbsp;Dick's Sporting Goods raised its buyback program to $400M, along with issuing a special dividend.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/495aa835fe40772fc3166c1b29b2e32c\" tg-width=\"684\" tg-height=\"645\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFinancial stocks overtake tech as the big buyback sector, BofA says: At the Open\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-25 20:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3733876-financial-stocks-overtake-tech-as-the-big-buyback-sector><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Financial stocks got an \"alpha signal\" and could be set to outperform the S&P(SP500)(NYSEARCA:SPY)in the next few months, according to the latest BofA Securities client flow survey.\nFinancial Select ...</p>\n\n<a href=\"https://seekingalpha.com/news/3733876-financial-stocks-overtake-tech-as-the-big-buyback-sector\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","XLB":"材料ETF","XLC":"Communication Services Select Sector SPDR Fund","XLF":"金融ETF","XLK":"高科技指数ETF-SPDR","XLE":"SPDR能源指数ETF","XLV":"健康照护类股ETF-SPDR"},"source_url":"https://seekingalpha.com/news/3733876-financial-stocks-overtake-tech-as-the-big-buyback-sector","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113483554","content_text":"Financial stocks got an \"alpha signal\" and could be set to outperform the S&P(SP500)(NYSEARCA:SPY)in the next few months, according to the latest BofA Securities client flow survey.\nFinancial Select Sector SPDR Fund (NYSEARCA:XLF)are up about 0.2% premarket, the leading S&P sector with the 10-year Treasury yield (NYSEARCA:TBT)(NASDAQ:TLT) up another 2 basis points to 1.31%.\nWeekly buybacks in Financials from clients were the highest on record since 2010 and nearly a record as a percent of market cap, BofA says.\n\"Buybacks by corporate clients accelerated from the prior week to the highest level since mid-March, driven by Financials,\" strategists led by Jill Carey Hall write in a note. \"Financials has now overtaken Tech as the sector with the largest dollar amount buybacks so far this year.\"\n\"Based on our flows data from 2010 to today, we have found that the S&P 500 sector buying back the largest dollar amount in a given week have tended to outperform over the next several months with a >50% hit rate,\" Hall says.\n\n\n\n\"YTD, corporate client buybacks across sectors are +49% y/y but still far from pre-COVID levels: -14% vs. 2019 at this time, and one of the weakest years post-crisis so far when normalized by market cap,\" Hall adds.\nOverall, clients broke a two-week selling streak, buying a relatively small net amount of $300M.\nHedge funds drove the buying with the biggest inflow in five months, while institutional and retail investors sold.\nSeven of the 11 S&P sectors saw inflows. Financials were on top with the sixth-largest inflows on record. Technology Select Sector SPDR Fund (NYSEARCA:XLK), Health Care Select Sector SPDR Fund (NYSEARCA:XLV), Consumer Discretionary(NYSEARCA:XLY)and Consumer Staples(NYSEARCA:XLP)had net selling.\nExcluding buybacks, The Communication Services Select Sector SPDR Fund (NYSEARCA:XLC), Materials Select Sector SPDR Fund (NYSEARCA:XLB) and Energy Select Sector SPDR Fund (NYSEARCA:XLE) led inflows.\nThis morning, Dick's Sporting Goods raised its buyback program to $400M, along with issuing a special dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":602,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}