S&P 500 looks set for a major race
Wall Street is set to start releasing third quarter results and market participants are expecting another big round of releases. Robust growth in the global economy is responsible for most of these profits, leading to the same successful reports in the second quarter. Some of the highest expectations can be found in the banking industry, as JPMorgan Chase & Co., Bank of America Corp., PNC Financial Services Group Inc., and US Bancorp seek to lead the pack. This is due to micro factors in their businesses, but also macro factors benefiting financials as interest rates appear to rise and the Fed begins to decline. Outside of financials, large caps like UnitedHealth Group Inc. are also looking to post very high profits with strong financial results and their valuable Optum brand is driving the profits. The delta variant may have crippled some companies in the big Q2, but large-cap companies could be robust enough to withstand the resurgence of covid.
FINAL SUM: Additionally, energy companies are expected to release solid numbers for the third quarter as high prices helped the results of these large-cap behemoths.
- S&P 500
- big cap
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