XLF Breaks Resistance on High Volume

Financials surged Thursday on results from Wells Fargo (WFC) that were better than expected, sending the whole sector higher. The financial ETF (XLF) broke through previous resistance levels, on the heaviest volume in 10 sessions. Wells Fargo finished the day up more than 31%, Bank of America (BAC) closed up 35%, and Citigroup (C) closed up 12%.

Barclays (BCS) announced the sale of its iShares unit to CVC Capital Partners, a private equity group for $4.4 billion.