3 Financial ETFs To Watch As US Bank Earnings Season Kicks Off Friday
Portfolio Pulse from Piero Cingari
Major U.S. banks including JPMorgan Chase & Co., Wells Fargo & Co, BlackRock Inc., Citigroup Inc, and State Street Corp. are set to release their Q2 earnings results on July 14. The Street consensus projects significant increases in EPS for most of these banks, with the exception of Citigroup. Three financial ETFs to watch during this period are Financial Select Sector SPDR Fund, Direxion Financial Bull 3x Shares, and SPDR S&P Bank ETF.
July 13, 2023 | 9:24 pm
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NEGATIVE IMPACT
Citigroup's Q2 EPS and revenues are expected to fall.
The expected decrease in earnings and revenues could negatively impact Citigroup's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
BlackRock's Q2 EPS is expected to increase, but revenues are predicted to drop slightly.
The expected increase in EPS could have a positive impact on BlackRock's stock, but the predicted drop in revenues could offset this.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
The Direxion Financial Bull 3x Shares is another ETF to monitor during the bank earnings season.
The performance of the ETF could be influenced by the earnings results of the financial sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P Bank ETF is also recommended to watch during the bank earnings season.
The performance of the ETF could be influenced by the earnings results of the U.S. bank stocks it holds.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The Financial Select Sector SPDR Fund is one of the ETFs to watch during the bank earnings season.
The performance of the ETF could be influenced by the earnings results of its top holdings, including JPMorgan and Wells Fargo.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
JPMorgan is expected to report a significant increase in EPS and revenues for Q2.
The projected increase in earnings and revenues is likely to have a positive impact on JPMorgan's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
State Street Corp.'s Q2 EPS and revenues are expected to rise.
The expected increase in earnings and revenues could positively impact State Street Corp.'s stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo's Q2 EPS and revenues are predicted to increase significantly.
The expected increase in earnings and revenues could positively impact Wells Fargo's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100