Financials this week: Berkshire and Blackstone gain, HSBC and Globe Life fall
Seeking Alpha's weekly review of financial stocks: top gainers and losers among large, mid and small caps amid hotter CPI data and bank earnings.
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what happened
According to Seeking Alpha, Wall Street had a mixed week as a sharp jump in volatility reflected fresh problems in technology, while investors kept weighing hotter-than-expected CPI data and the latest bank earnings. The State Street Financial Select Sector SPDR ETF rose 0.68% over the week to close at $55.90.
Among megacaps, Toronto-Dominion Bank led gainers with a 3.51% rise to $124.61. Berkshire Hathaway's class B shares added 1.91% to $542.19, while class A gained 1.95% to $813,595. HSBC was the top large-cap decliner, down 4.11% to $90.68. Globe Life dropped 8.28% after Piper Sandler cut it to Neutral from Overweight following weaker-than-expected third-quarter earnings.
In smaller names, UWM Holdings jumped 38.10%, First Citizens Bancshares rose 11.87% and Blackstone gained 10.66%.
why it matters
Weekly moves in individual stocks mostly reflect company news such as quarterly results, filings and buyback programs. For the market as a whole, the sector trend matters more, given inflation data and expectations for interest rates.
market impact
US banks and financials: earnings and inflation data set the direction for sector stocks
instruments
sources
- Berkshire Hathaway, Blackstone in gainers; HSBC, Globe Life among losers: week's financials wrap — Seeking Alpha, 24 October 2026 at 14:00 UTC
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