NEW YORK: The focus on Wall Street will shift to corporate earnings next week after a strong June jobs report on Friday gave investors confidence that the U.S. eco**my was on stable footing and left the S&P 500 within a whisper of a new closing record high.
Earnings next week are expected from big banks JPMorgan Chase, Citigroup and Wells Fargo as well as other financial companies such as BlackRock and PNC Financial Services. earnings for the sector are expected to decline 5.4 percent. If Bank earnings come in better than expected, the S&P 500 is likely to push through its record highs set in May 2015 after several failed attempts, as Friday's jobs number helped push the benchmark index to less than one point from its closing record high of 2,130.82.
07-10-2016, 02:59 AM
Bank earnings loom large
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