Financial stocks got a boost during the week the October inflation data came in below expectations, fueling a pullback in Treasury yields.
With last month’s softer-than-expected CPI data, the Financial Select Sector SPDR ETF (NYSEARCA:XLF) climbed 3.3% for the week ended Nov. 17, outpacing the S&P 500’s 2.2% increase.
Upstart Holdings (NASDAQ:UPST), the AI-driven lending platform, rose the most of any U.S. traded financial stock (with market cap over $2B) this week, jumping 22.6%;
Regional lender BankUnited (NYSE:BKU) took the second slot, gapping up 18.7%;
Walker & Dunlop (NYSE:WD), a provider of multifamily and commercial real estate financing products and services, accelerated 16.8%; and
Brazilian digital bank Nu Holdings (NYSE:NU) retreated 5.3% even after turning in solid growth in revenue and adjusted net income as purchase volume climbed and average cost per active customer stayed flat;
Interactive Brokers (NASDAQ:IBKR), an automated electronic broker, drifted down 3.9%;
SLM Corp. (NASDAQ:SLM), a consumer finance name, slipped 2.8%; and