NEW YORK (
) -- ETFs tracking financials are shedding recent gains on Wednesday, a day before
opens the banking earnings season with its results.
Markets have been fluctuating as investors digest
's blowout earnings on Tuesday and weaker-than-expected retail sales data that came out today. Shares of JP Morgan are down 0.6%, while
are down 1.3% and 1% respectively.
The Financial Sector SPDR ETF
is down about 1%. Earlier this morning, the Mortgage Bankers Association said mortgage loan-application volume dropped 2.9% last week.
The biggest losers within the category are regional banking ETFs.
KBW Regional Banking ETF
is down 1.9%. Its holdings include
Bank of Hawaii
, down 0.7%, and
, down 3.2%.
Retail and consumer discretionary ETFs were lower following weak retail sales data. The
Consumer Discretionary Sector SPDR
shed 0.8% while the
SPDR S&P Retail ETF
is down 0.9%.
continues to lead tech stocks and ETFs higher.
PowerShares Dynamic Technology
is a prominent gainer, led by the rally in
--Reported by Shanthi Venkataraman in New York.
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