U.S. stock market sectors reclassified, with big shifts to financials from tech

The revisions meant “big changes” for financials and technology as some S&P 500 stocks switched sectors, according to a BofA Global Research note from earlier this month. As a result of changes to the Global Industry Classification Standard, or GICS, financials could become “the new crowded sector,” BofA equity and quant strategists said in the March 7 note.

S&P Dow Jones Indices and MSCI announced about a year ago that their GICS revisions would take place after the close of business Eastern time on March 17. Companies that moved to the financial sector from information technology included Visa Inc. V , Mastercard Inc. MA and PayPal Holdings Inc. PYPL , according to the BofA note.Shares of the Technology Select Sector SPDR exchange-traded fund XLK were up 15.3% this year through Friday, while the Financial Select Sector SPDR ETF XLF was down 9.4%, according to FactSet data. The performance of the two sectors compares with a 2% gain for the SPDR S&P 500 ETF Trust SPY over the same period of 2023.

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Majority of Colorado hospital systems lost money in 2022 as costs surged, stock market tankedColorado hospitals as a whole remained financially healthy through the first two years of the pandemic, but their profit margins were slashed in half in 2022 as costs swelled, pushing the majority of the state’s hospital systems into the red by the fall. No sympathy. Why in the rocky mountain fuck should hospitals turn a profit? Healthcare must be a legal right for every American, and profit shouldn't enter into the equation. Medicare for all is the only civilized solution to this barbarity.
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U.S. stock-market futures edge higher after historic deal to rescue Credit SuisseU.S. stock-index futures opened with modest gains Sunday evening as investors assessed a historic deal to rescue troubled Swiss lender Credit Suisse as... Until the next “rescue.” CS was a mess before this, but they are not the last bank with serious issues Thanks Yellen, keep on pumping that money in….and consolidating the banks on the backs of taxpayers guaranteeing their bad behavior.
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