champion
Financial stocks fell last week as a better-than-expected nonfarm payrolls report knocked some sense out of traders' notion that the Federal Reserve's much-anticipated monetary easing next year may not be as aggressive as they expected.
With the wake-up call Spurred by the jobs report, financial stocks fell during the week ending December 8, with the Financial Select Sector SPDR ETF (NYSERCA:XLF) moving forward little by little down 0.1%. The S&P 500, on the other hand, rose up to 0.2%.
Robinhood Markets (NASDAQ: HOOD) rose more than any financial stock (with a market cap of more than $2 billion) this week, increasing by 25.9%, as the rally in bitcoin (btc-USD) reflected positively on the supposedly third largest holder of bitcoins. Armed with bitcoin's rally, the trading app said it launched commission-free cryptocurrency trading in the European Union.
Digital marathon entries (NASDAQ: MARÁ) jumped 22.5% since the mentioned rise of bitcoin (btc-USD) also helped the bitcoin miner;
Axos Financial Regional Bank (New York Stock Exchange: AX) rose 19.6% amid news, acquired two loan portfolios with a combined principal balance of $1.25 billion from the FDIC;
Riot platforms (NASDAQ: UNREST), another bitcoin miner, accelerated 15% on the news of a new purchase order that is expected to increase its scale and improve fleet efficiency; and
Upstart holdings (NASDAQ:UPST), the ai-powered lending platform, won 14.1%.
On the negative side, RenaissanceRe Holdings (New York Stock Exchange: RNR) took the initiative, sliding 5.9%;
Everest Group (New York Stock Exchange: EG), another reinsurer, fell 5.6%;
Tradeweb Markets (NASDAQ:TW), which during the week recorded an annual jump in average daily volume, fell 4.7%;
Futu Holdings (NASDAQ:FUTU), a financial technology company based in Hong Kong, fell 4.4%; and
Arch Capital Group (NASDAQ:ACGL) rounded out the five biggest losers, with a gap down 4%.
