The VanEck Vectors Gold Miners ETF (GDX) raked in $610.1 million. SMH also saw substantial inflows of $552.8 million.
U.S. Bancorp (USB) was fined $613 million by Geoffrey S. Berman, the United States Attorney for the Southern District of New York.
Bank shares soared last week due to expectations that higher inflation could support interest rates.
After registering the strongest inflows in January, ETFs witnessed huge outflows last week. The YTD inflows have fallen to $51.9 billion.
AIG (AIG) reported a net loss of $6.66 billion in 4Q17—compared to a loss of $3 billion in 4Q16.
Broader markets posted a sharp drop and the financial sector saw more losses. The S&P 500 financial index fell 5.80% and closed at 458.95.
Despite negative market sentiment prevailing last week, investors made optimistic stock bets.
Last week, the Fed imposed strict penalties on Wells Fargo (WFC) for years of misconduct and non-compliance. The Fed also barred the bank from future growth until the bank resolves…
With concerns about rising inflation and increasing bond yields last week, US stocks saw their largest fall over a week in two years.
SPY, the world’s largest ETF, continued to receive huge inflows. After adding $7.8 billion the previous week, it added another $6.2 billion last week.