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Tuesday, 12 October 2021 20:51

The S&P 500 Looks Poised for a Major Run

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(New York)

Wall Street is about to start posting 3rd quarter earnings and market participants are expecting another big round of postings. Driving most of those earnings is robust growth in the overall economy, which drove the same blockbuster Q2 reports. Some of the highest expectations are in the banking sector as JPMorgan Chase & Co., Bank of America Corp., PNC Financial Services Group Inc., and U.S. Bancorp are looking to lead the pack. This is driven by micro factors in their companies but also macro factors that benefit financials as interest rates look to rise and the Fed begins tapering. Outside financials, large caps like UnitedHealth Group Inc. are also looking to post very high earnings with solid financials and its valuable brand Optum is driving earnings. The delta variant may have hamstrung some companies from the great Q2, but large-cap companies could be robust enough to withstand the covid resurgence.


FINSUM: Additionally, look to energy companies to post solid Q3 numbers as high prices helped bottom lines for these large-cap juggernauts.

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