Other companies are expected to announce their earnings, particularly within the financial sector–JPMorgan Chase & Co, Wells Fargo and Citigroup are estimating a strong second quarter when they publish results on Friday. Bank of America, Goldman Sachs Group and Morgan Stanley will report their second quarter earnings next week.
Related: Is Trade War the “New Normal”?
Analysts cite the growth of loan portfolios and capital return for better-than-expected earnings estimates.
“Incremental loan growth and capital return are the biggest remaining upside deltas to our estimates from here, but each would be smaller add-ons relative to past benefits from higher rates and lower taxes,” said Jefferies’ analyst Ken Usdin.
For more market news, visit ETFTrends.com.