SPDR S&P 500 ETF (NYSEArca: SPY) was the most popular fund in June, gaining $3.60 billion in assets. SPY is a proxy for the popular S&P 500 index. Olly Ludwig for Index Universe reports that the ETF industry was strong during the second quarter, with equities and bond funds favored. [S&P 500 ETF Forming Bullish Pattern]
Eyes will be on the financial sector, with JP Morgan( NYSE: JPM) closely watched. If JP Morgan reports a big loss, new questions and regulations may arise for the financial sector, reports Daniel Sckolnik on iStockanalyst. Bank of America (NYSE: BAC) is expected to report higher earnings this quarter. [S&P 500 ETF Sees Largest Inflow Since 2008]
“On the surface, one could argue that this is just another example of a slowdown in global economic growth,” Sam Stovall, chief equity strategist at S&P Capital IQ, wrote in a note. “On the other hand, one could say ‘new quarter, old trick,’ meaning that this is merely a continuation of management’s efforts to guide EPS growth estimates to unrealistically low levels.”
Tisha Guerrero contributed to this article.