It was a holiday-shortened week on Wall Street, but the there and a half trading days that comprised the week were enough time for U.S. stocks to to establish another set of all-time highs.
During Thursday’s half session, the S&P 500 gained 0.55% while the Dow Jones Industrial mustered its first close above the lofty 17,000 level. Adding fuel to the bulls’ fire is the potential for significant upside surprises as second-quarter earnings season starts in the coming days.
“Analysts polled by Reuters are calling for earnings growth for the second quarter of 6.2 percent, and a return to double digits in the third and fourth quarters: 10.9 percent and 11.9 percent, respectively. The last time that S&P 500 earnings achieved double-digit percentage growth was the third quarter of 2011, when the growth rate was 18 percent,” reports Angela Moon for Reuters.
Before looking to the future, let’s have a look at some of this week’s big ETF stories.
ETF Industry News
The real skinny on ETF asset flows. Hint: It’s not just one issuer bringing in the dough. [Plenty of Competitors Gain ETF Assets]
ETFs are gaining traction in retirement accounts, according to a Schwab study.
iShares was the second-quarter inflows leader. [iShares Leads Second-Quarter ETF Flows]
Broad Market Sector ETFs