The Wall Street will shift its focus towards corporate incomes and gains in the upcoming week after the US recorded strong Jobs figures for the month of June on 8th of July. The growth in U.S. Job numbers boosted the confidence of traders and further gave them an indication that the United States’ economy was much stable.
According to financial experts and analysts, the earnings for the upcoming week isrds likely to come via major banks such as JP Morgan Chase, Wells Fargo, Citigroup and other leading financial organizations like BlackRock as well as PNC Financial Services. Financial experts are also of the opinion that in case the bank incomes and earnings are better compared to the expectations, then the S&P 500 index will go past its record higher figures registered in the month of May in 2015. In fact, the 2nd quarter income for the overall financial sector is expected to drop to 4.7% as per a Thomson Reuters report.
Traders are awaiting confirmation in this particular quarter and if the earnings/income grows by an expected rate of 1.8% in the 3rd quarter then the investors’ confidence will definitely go up. Traders will also be waiting for other prominent figures that will come from Alcoa Incorporation, Delta Air Lines and CSX Corporation in the upcoming week.