JPMorgan, Futu in losers; Robinhood, SoFi among gainers: week's financials wrap

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Wall Street finished [https://seekingalpha.com/article/4910280-what-moved-markets-this-week] the holiday-shortened week on top, with all three major averages advancing as investors weighed signs of easing geopolitical tensions in the Middle East, a softer-than-expected inflation reading, and strong corporate earnings that reinforced optimism around AI-driven growth.

However, State Street Financial Sel Sec SPDR ETF (XLF [https://seekingalpha.com/symbol/XLF]) finished lower, losing 0.69% from the prior week to close at $51.58.

The S&P 500 Index Banks Industry Group (SP500-4010 [https://seekingalpha.com/symbol/SP500-4010]) fell 0.66% during the course of the week, the S&P 500 Diversified Financials Index (SP500-4020 [https://seekingalpha.com/symbol/SP500-4020]) was down 0.04%, and the S&P 500 Insurance Index Industry Group (SP500-4030 [https://seekingalpha.com/symbol/SP500-4030]) slumped 4.05%.

For the individual stocks, Mitsubishi UFJ Financial Group (MUFG [https://seekingalpha.com/symbol/MUFG]) led the megacap losers, retreating 3.46% to $18.71.

The week saw media reports [https://seekingalpha.com/news/4596682-japans-mufg-explores-take-private-or-stake-sale-for-indonesias-danamon-report] on Mitsubishi UFJ Financial exploring options for PT Bank Danamon Indonesia (PBDIF [https://seekingalpha.com/symbol/PBDIF]), including a take-private of the lender or selling some of its stake to increase the public float.

Visa (V [https://seekingalpha.com/symbol/V]) and JPMorgan Chase (JPM [https://seekingalpha.com/symbol/JPM]) followed, with a 1.44% and 1.22% decline to $326.36 and $299.31, respectively.

Visa saw a mixed trading week, declining in two out of the four trading sessions. The stock was falling after the company's presentation [https://seekingalpha.com/article/4909637-visa-inc-v-presents-at-bernstein-42nd-annual-strategic-decisions-conference-transcript] at the Bernstein 42nd Annual Strategic Decisions Conference.

The banking giant was in the news time and again during the course of the week.

Wall Street banks, including JPM, were said to be urging [https://seekingalpha.com/news/4596781-wall-street-pushes-to-lock-in-supervision-revamp---report] the Federal Reserve in efforts behind the scenes to engineer its new supervisory regime so that the changes can't be easily unwound by future administrations.

Specifically, they are asking the U.S. central bank to formally address legal ambiguity regarding the softer process that's replacing "matters requiring attention," or MRAs.

Separately, CEO Jamie Dimon said [https://seekingalpha.com/news/4597531-jpmorgan-chases-dimon-sees-potential-for-up-to-a-20b-acquisition] the bank was on the lookout for acquisitions, and he envisions a $10B-$20B acquisition in the next couple of years.

Furthermore, the week saw Dimon vow [https://seekingalpha.com/news/4598451-jpmorgan-will-fight-clarity-act-in-current-form-jamie-dimon-says] that JPMorgan will fight the stablecoin legislation known as the CLARITY Act in its current form. The U.S. Senate Banking Committee had advanced [https://seekingalpha.com/news/4593195-republican-led-senate-banking-committee-advances-crypto-bill---report] the landmark cryptocurrency legislation to the full Senate for its vote, with the bill now expected to see a fierce lobbying fight.

Goldman Sachs (GS [https://seekingalpha.com/symbol/GS]) topped the gainers, advancing 3.78% week-over-week to $1,025.56. COO John Waldron had said [https://seekingalpha.com/news/4598100-goldman-sachs-sees-near-record-m-and-a-activity-in-2026] merger and acquisition activity is strong so far in 2026, and the company sees the potential to reach a record in advising on M&A.

Additionally, Goldman Sachs' private credit manager said [https://seekingalpha.com/news/4596788-goldman-sachs-private-credit-corp-sells-unregistered-shares] it has sold certain unregistered shares at its net asset value.

Among largecap stocks, Robinhood Markets (HOOD [https://seekingalpha.com/symbol/HOOD]) (+24.21% W/W to $94.30) led the gainers.

The stock climbed after the launch [https://seekingalpha.com/news/4598026-robinhood-stock-gains-after-trump-accounts-app-launches] of the Trump Accounts app, which lets Americans open retirement accounts similar to a 401(k) for children.

Hut 8 (HUT [https://seekingalpha.com/symbol/HUT]) (+18.59% W/W to $124.83) and SoFi Technologies (SOFI [https://seekingalpha.com/symbol/SOFI]) (+16.42% W/W to $18.22) were the other significant gainers in the category.

SOFI jumped after rolling out [https://seekingalpha.com/news/4598363-are-sofi-technologies-bulls-here-2-factors-say-near-term-looks-bullish] two major updates that highlighted both stronger consumer spending trends and its deeper push into digital assets.

The week saw the company launch [https://seekingalpha.com/news/4597306-sofis-bank-issued-us-dollar-stablecoin-available-to-trade-on-app] its U.S. dollar stablecoin, SoFiUSD, directly within the SoFi app. The stock also drew investor attention after releasing [https://seekingalpha.com/news/4598363-are-sofi-technologies-bulls-here-2-factors-say-near-term-looks-bullish] its first Galileo Debit Spend Index, which showed U.S. consumer spending rebounded sharply in March following a cautious start to Q1.

Everest Group (EG [https://seekingalpha.com/symbol/EG]) (-9.10% W/W to $324.03) and Prudential (PUK [https://seekingalpha.com/symbol/PUK]) (-7.97% W/W to $28.76) were the biggest losers in the category.

For the midcap stocks, Futu Holdings (FUTU [https://seekingalpha.com/symbol/FUTU]) was a notable decliner, sliding 15.98% to $104.07. Futu posted its first-quarter earnings [https://seekingalpha.com/news/4597749-futu-holdings-gaap-epads-of-077-revenue-of-7469m-reaffirms-full-year-guidance] release on Thursday. Prior to the earnings release, the company repurchased its American depositary shares in two [https://seekingalpha.com/news/4596547-futu-holdings-repurchases-160m-in-adss-as-shares-face-price-pressure] tranches [https://seekingalpha.com/news/4597216-futu-repurchases-290m-worth-of-adss-under-buyback-program] as stocks faced price pressure.

StepStone Group (STEP [https://seekingalpha.com/symbol/STEP]) (-9.92% W/W to $49.31) and SiriusPoint (SPNT [https://seekingalpha.com/symbol/SPNT]) (-9.26% W/W to $21.35) were the other notable laggards among midcap stocks.

Upstart Holdings (UPST [https://seekingalpha.com/symbol/UPST]) led the gainers, advancing 17.12% to $33.79. The AI lending marketplace said [https://seekingalpha.com/pr/20532569-upstart-publishes-april-2026-umi] it has updated its Upstart Macro Index to include the April 2026 data.

CleanSpark (CLSK [https://seekingalpha.com/symbol/CLSK]) (+16.05% W/W to $18.29) and Banco Macro (BMA [https://seekingalpha.com/symbol/BMA]) (+15.89% W/W to $90.78) followed. The bank reported [https://seekingalpha.com/news/4597741-banco-macro-reports-q1-results] a 131% year-over-year rise in its Q1 net income.

Qfin Holdings (QFIN [https://seekingalpha.com/symbol/QFIN]) (+30.10% W/W to $16.08), Bitgo Holdings (BTGO [https://seekingalpha.com/symbol/BTGO]) (-22.55% W/W to $6.01), and Innventure (INV [https://seekingalpha.com/symbol/INV]) (-20.33% W/W to $5.33) were the notable smallcap movers.

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