It’s Going to Be a Big Week for Financial Sector ETFs

ETF Trends2022-07-12

Financial sector-related exchange traded funds will be in the limelight this week as Wall Street banks kick off the earnings season.Major financial firms such as JPMorgan Chase (NYSE: JPM) and Morgan ...

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Amok
2022-07-12
Amok
Gd

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Consequently, market analysts are worried about whether or not current projections could hold through this upcoming earnings season.“The key thing to look for is the reserves,” Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, told CNN, referring to the cash holdings that financial institutions have held on to meet central bank requirements. “How much they’re reserving will show how concerned they are about a recession. That will be data that will be closely watched by analysts and investors alike, that’s very key.”Looking ahead, analysts anticipate overall S&P 500 earnings to expand by 5.6% in the second quarter, or downwardly revised from an expected 6.8% at the start of April, according to Refintiv data. 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