While the large stock indices finished the week with a decent rise, financial stocks, for the most part, found themselves trying to eke out a gain in the past five sessions. The Financial Select Sector SPDR ETF ( NYSEARCA: XLF ) rose ~0.3% in the past five sessions, less than the S&P 500's 4% rise over the same period, helped by inflation data that is boosting hopes of a Federal Reserve interest rate cut on Sept. 18. The week of Sept. 9 was actually the best week of the year for the index. Crypto investors had much to cheer about, especially considering the nearly 10% decline Bitcoin ( BTC-USD ) had the week of Aug. 25. For the week of Sept. 9, Bitcoin rose ~8.4%. Bitcoin miners were among the best performing financial stocks of the week, led by MARA Holdings ( MARA ) with a ~20.6% return. CleanSpark ( CLSK ), Riot Platforms ( RIOT ), and Coinbase Global ( COIN ) also did well, returning, respectively, ~16%, ~12.9%, and ~10.7%. Robinhood Markets ( HOOD ) and private equity firm TPG ( TPG ) also had a strong week, with returns of, respectively, ~16.5% and ~15.8%. The biggest decliner of the week was Ally Financial ( NYSE: ALLY ), losing ~17%. The stock tumbled ~18% on Sept. 10 after company CFO Russ Hutchinson said it was seeing worsening credit conditions among the auto lender's borrowers. Bread Financial Holdings, ( BFH ) which engages in lending solutions, was the second worst performer, shedding ~13.4%. It, too, was hit hard on Sept. 10, perhaps a casualty of Hutchinson's comments. Automobile insurer Mercury General Corp ( MCY ) and JPMorgan Chase ( NYSE: JPM ) rounded out the bottom four performers, losing, respectively, ~5.8% and ~3.8%. More on Ally Financial, JPMorgan Chase JPMorgan Chase Stock: The Tough Get Going Ally Financial Tumbles: Investors Should Adjust Their Near-Term Expectations JPMorgan Chase & Co. (JPM) Barclays Global Financial Services Conference 2024 (Transcript) Most and least shorted S&P 500 financial stocks in August Bank stocks extend decline as CPI data reduce chances of jumbo Fed rate cut
