Even under the shadow of a vague China trade deal this week, markets took on a positive mood, as the focus moved away from headlines and macro events, toward earnings.

Reports from major banks were solid, small-caps have shown relative strength and some recently battered sectors like biotechnology and retail have ticked up. On Monday, the S&P 500 moved steadily higher during the day, albeit on lower volume, and Tuesday was relatively flat.  But a large number of Q3 earnings reports continue for the next several weeks. The lion’s share of the S&P 500 will report in the next two weeks.

Of the companies that have already announced earnings through Friday (10/18/19), 81% posted earnings that beat analyst expectations. Should the trend continue, some traders think the index could test its all-time high.

Below is a table identifying the percentage of names in each index reporting, arranged by trading week. Following that table is a list of Top Ten Holdings for key indexes, along with their earnings announcement dates, and corresponding bold trades using Direxion Leveraged ETFs.

Source: Bloomberg. Data as of 10/9/2019.

Q3 Quarterly Earnings Calendar

(All index data as of 9/30/2019)

S&P 500 Index (SPXT)S&P 400 Index (MID)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Microsoft CorpMSFT4.34%10/23/2019STERIS PLCSTE0.71%11/14/2019
Apple IncAAPL3.97%10/30/2019Teledyne Technologies IncTDY0.69%10/23/2019
Amazon.com IncAMZN2.95%10/24/2019Alleghany CorpY0.66%11/5/2019
Facebook IncFB1.78%10/30/2019Camden Property TrustCPT0.65%10/31/2019
Berkshire Hathaway IncBRK/B1.66%11/4/2019Old Dominion Freight Line IncODFL0.63%10/24/2019
Alphabet IncGOOG1.50%10/28/2019Zebra Technologies CorpZBRA0.63%10/29/2019
JPMorgan Chase & CoJPM1.49%10/15/2019Domino’s Pizza IncDPZ0.62%2/20/2020
Alphabet IncGOOGL1.49%10/28/2019West Pharmaceutical Services IncWST0.62%10/24/2019
Johnson & JohnsonJNJ1.42%10/15/2019WR Berkley CorpWRB0.62%10/22/2019
Procter & Gamble Co/ThePG1.26%10/22/2019Tyler Technologies IncTYL0.61%10/24/2019
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 Russell 2000® Index (RU20INTR)Russell 1000 Financial Services Index (RGUSFLA)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Haemonetics CorpHAE0.34%11/1/2019Berkshire Hathaway IncBRK/B7.17%11/4/2019
Novocure LtdNVCR0.34%10/31/2019JPMorgan Chase & CoJPM6.41%10/15/2019
Trex Co IncTREX0.28%10/28/2019Visa IncV5.44%10/24/2019
Portland General Electric CoPOR0.27%11/1/2019Mastercard IncMA4.36%10/29/2019
Generac Holdings IncGNRC0.27%10/30/2019Bank of America CorpBAC4.20%10/16/2019
First Industrial Realty Trust IncFR0.27%10/23/2019Wells Fargo & CoWFC3.43%10/15/2019
Science Applications International CorpSAIC0.26%12/9/2019Citigroup IncC2.71%10/15/2019
ONE Gas IncOGS0.26%10/28/2019PayPal Holdings IncPYPL2.10%10/23/2019
Rexford Industrial Realty IncREXR0.26%10/30/2019American Tower CorpAMT1.77%10/31/2019
Southwest Gas Holdings IncSWX0.26%11/5/2019Fidelity National Information Services IncFIS1.42%10/29/2019
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Technology Select Sector Index (IXTTR)Health Care Select Sector Index (IXVTR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Microsoft CorpMSFT19.59%10/23/2019Johnson & JohnsonJNJ10.36%10/15/2019
Visa IncV5.63%10/24/2019Merck & Co IncMRK6.48%10/29/2019
Mastercard IncMA4.53%10/29/2019UnitedHealth Group IncUNH6.34%10/15/2019
Intel CorpINTC4.17%10/24/2019Pfizer IncPFE5.96%10/29/2019
Cisco Systems IncCSCO3.72%11/13/2019Medtronic PLCMDT4.31%11/19/2019
Adobe IncADBE2.47%12/12/2019Abbott LaboratoriesABT4.22%10/16/2019
salesforce.com IncCRM2.41%11/27/2019Amgen IncAMGN3.56%10/29/2019
International Business Machines CorpIBM2.30%10/16/2019Thermo Fisher Scientific IncTMO3.34%10/23/2019
Oracle CorpORCL2.23%12/17/2019Eli Lilly & CoLLY2.74%10/23/2019
Texas Instruments IncTXN2.21%10/22/2019Danaher CorpDHR2.64%10/17/2019
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S&P Consumer Discretionary Index (IXYTR)S&P Consumer Staples Index (IXRTR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Home Depot Inc/TheHD11.06%11/19/2019Procter & Gamble Co/ThePG16.45%10/22/2019
McDonald’s CorpMCD7.18%10/22/2019Coca-Cola Co/TheKO11.17%10/18/2019
NIKE IncNKE5.14%12/20/2019PepsiCo IncPEP10.34%2/14/2020
Starbucks CorpSBUX4.56%10/30/2019Walmart IncWMT9.10%11/14/2019
Booking Holdings IncBKNG3.65%11/7/2019Philip Morris International IncPM4.77%10/17/2019
Lowe’s Cos IncLOW3.63%11/20/2019Mondelez International IncMDLZ4.69%10/23/2019
TJX Cos Inc/TheTJX3.00%11/19/2019Altria Group IncMO4.69%10/31/2019
Target CorpTGT2.53%11/20/2019Costco Wholesale CorpCOST4.58%12/12/2019
General Motors CoGM1.91%10/29/2019Colgate-Palmolive CoCL3.58%11/1/2019
Dollar General CorpDG1.84%11/27/2019Kimberly-Clark CorpKMB2.80%10/22/2019
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S&P Industrials Select Sector Index (IXITR)S&P Energy Select Sector Index (IXETR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Boeing Co/TheBA9.01%10/23/2019Exxon Mobil CorpXOM22.84%11/1/2019
Honeywell International IncHON5.17%10/17/2019Chevron CorpCVX21.22%11/1/2019
Union Pacific CorpUNP4.91%10/17/2019Phillips 66PSX4.71%10/25/2019
United Technologies CorpUTX4.82%10/22/2019ConocoPhillipsCOP4.62%10/29/2019
Lockheed Martin CorpLMT4.31%10/22/2019EOG Resources IncEOG4.11%11/7/2019
3M CoMMM3.93%10/24/2019Marathon Petroleum CorpMPC4.08%10/31/2019
United Parcel Service IncUPS3.58%10/22/2019Kinder Morgan Inc/DEKMI4.01%10/16/2019
General Electric CoGE3.27%10/30/2019Schlumberger LtdSLB3.98%10/18/2019
Caterpillar IncCAT3.02%10/23/2019Occidental Petroleum CorpOXY3.75%11/6/2019
Northrop Grumman CorpNOC2.63%10/24/2019Valero Energy CorpVLO3.62%10/24/2019
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S&P Utilities Select Sector Index (IXUTR)S&P Communication Services Select Sector Index (IXUTR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
NextEra Energy IncNEE12.90%10/22/2019Facebook IncFB18.37%10/30/2019
Duke Energy CorpDUK7.97%11/8/2019Alphabet IncGOOG11.72%10/28/2019
Dominion Energy IncD7.60%11/1/2019Alphabet IncGOOGL11.63%10/28/2019
Southern Co/TheSO7.34%10/30/2019Charter Communications IncCHTR4.76%10/25/2019
Exelon CorpEXC5.28%10/31/2019Verizon Communications IncVZ4.65%10/25/2019
Sempra EnergySRE4.59%11/8/2019AT&T IncT4.61%10/23/2019
Xcel Energy IncXEL3.81%10/24/2019Comcast CorpCMCSA4.46%10/24/2019
Public Service Enterprise Group IncPEG3.54%10/30/2019Walt Disney Co/TheDIS4.40%11/7/2019
Consolidated Edison IncED3.53%10/31/2019Netflix IncNFLX4.27%10/16/2019
WEC Energy Group IncWEC3.40%10/30/2019Twitter IncTWTR4.09%10/25/2019
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S&P Retail Select Industry Index (SPSIRETR)S&P Pharmaceuticals Select Industry Index (SPSIPHTR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Hibbett Sports IncHIBB1.67%11/22/2019Zoetis IncZTS5.00%11/7/2019
GameStop CorpGME1.60%12/5/2019Bristol-Myers Squibb CoBMY4.92%10/31/2019
Rite Aid CorpRAD1.50%12/26/2019Merck & Co IncMRK4.89%10/29/2019
Ulta Beauty IncULTA1.44%12/5/2019Horizon Therapeutics PlcHZNP4.87%11/6/2019
Target CorpTGT1.42%11/20/2019Johnson & JohnsonJNJ4.75%10/15/2019
Foot Locker IncFL1.42%11/22/2019Eli Lilly & CoLLY4.65%10/23/2019
Dollar General CorpDG1.41%11/27/2019Pfizer IncPFE4.65%10/29/2019
Costco Wholesale CorpCOST1.40%12/12/2019Catalent IncCTLT4.51%11/5/2019
Sally Beauty Holdings IncSBH1.40%11/7/2019Elanco Animal Health IncELAN4.51%11/6/2019
Dillard’s IncDDS1.40%11/15/2019Perrigo Co PLCPRGO4.45%11/7/2019
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S&P Oil & Gas Exploration and Production Index (SPSIOP)S&P Biotechnology Select Industry Index (SPSIBITR)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Marathon Petroleum CorpMPC2.91%10/31/2019Seattle Genetics IncSGEN2.02%10/29/2019
PBF Energy IncPBF2.66%10/31/2019Medicines Co/TheMDCO1.88%10/30/2019
HollyFrontier CorpHFC2.63%10/31/2019Arrowhead Pharmaceuticals IncARWR1.87%12/10/2019
Hess CorpHES2.59%10/30/2019Ligand Pharmaceuticals IncLGND1.80%11/4/2019
Phillips 66PSX2.55%10/25/2019Regeneron Pharmaceuticals IncREGN1.79%10/31/2019
Valero Energy CorpVLO2.55%10/24/2019Celgene CorpCELG1.77%10/24/2019
Delek US Holdings IncDK2.45%11/4/2019Amgen IncAMGN1.76%10/29/2019
ConocoPhillipsCOP2.45%10/29/2019United Therapeutics CorpUTHR1.73%10/30/2019
Murphy Oil CorpMUR2.40%10/31/2019Incyte CorpINCY1.71%10/29/2019
Cabot Oil & Gas CorpCOG2.40%10/24/2019Vertex Pharmaceuticals IncVRTX1.70%10/23/2019
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S&P Regional Banks Select Industry Index (SPSIRBKT)MSCI US REIT Index (RMS G)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
PNC Financial Services Group Inc/ThePNC2.89%10/16/2019Prologis IncPLD5.40%10/15/2019
First Republic Bank/CAFRC2.85%10/15/2019Equinix IncEQIX4.82%10/30/2019
BB&T CorpBBT2.82%10/17/2019Simon Property Group IncSPG4.51%10/27/2019
M&T Bank CorpMTB2.82%10/17/2019Public StoragePSA3.89%10/30/2019
SunTrust Banks IncSTI2.82%10/17/2019Welltower IncWELL3.72%10/28/2019
Comerica IncCMA2.79%10/16/2019Equity ResidentialEQR3.25%10/22/2019
Zions Bancorp NAZION2.77%10/21/2019AvalonBay Communities IncAVB3.04%10/28/2019
KeyCorpKEY2.71%10/17/2019Digital Realty Trust IncDLR2.71%10/29/2019
Huntington Bancshares Inc/OHHBAN2.70%10/24/2019Ventas IncVTR2.65%10/25/2019
Regions Financial CorpRF2.67%10/22/2019Realty Income CorpO2.48%10/31/2019
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Dow Jones Transportation Average (DJTTR)PHLX Semiconductor Sector Index (XSOX)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Norfolk Southern CorpNSC10.37%10/23/2019NVIDIA CorpNVDA8.41%11/14/2019
Union Pacific CorpUNP9.45%10/17/2019Intel CorpINTC8.32%10/24/2019
FedEx CorpFDX8.50%12/17/2019Texas Instruments IncTXN8.03%10/22/2019
Kansas City SouthernKSU7.86%10/18/2019Broadcom IncAVGO7.57%12/5/2019
United Parcel Service IncUPS6.95%10/22/2019QUALCOMM IncQCOM7.51%11/6/2019
Landstar System IncLSTR6.75%10/23/2019Taiwan Semiconductor Manufacturing CoTSM4.43%10/17/2019
JB Hunt Transport Services IncJBHT6.56%10/15/2019Lam Research CorpLRCX4.34%10/23/2019
United Airlines Holdings IncUAL5.33%10/15/2019KLA CorpKLAC4.18%10/28/2019
CH Robinson Worldwide IncCHRW5.07%10/29/2019NXP Semiconductors NVNXPI4.06%10/28/2019
Kirby CorpKEX4.85%10/25/2019Micron Technology IncMU3.73%12/17/2019
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ISE Natural Gas Index (FUMTR)Dow Jones U.S. Select Aerospace & Defense Index (DJSASDT)
Top 10 NamesTickerWeight in the indexExpected Earnings ReleaseTop 10 NamesTickerWeight in the indexExpected Earnings Release
Murphy Oil CorpMUR5.06%10/31/2019Boeing Co/TheBA22.56%10/23/2019
Cimarex Energy CoXEC4.92%11/4/2019United Technologies CorpUTX15.68%10/22/2019
Cabot Oil & Gas CorpCOG4.91%10/24/2019Lockheed Martin CorpLMT6.98%10/22/2019
Vermilion Energy IncVET4.85%10/28/2019Northrop Grumman CorpNOC4.76%10/24/2019
Enerplus CorpERF4.73%11/8/2019TransDigm Group IncTDG4.68%11/5/2019
Devon Energy CorpDVN4.57%11/5/2019Raytheon CoRTN4.64%10/24/2019
Matador Resources CoMTDR4.56%10/30/2019L3Harris Technologies IncLHX4.63%10/30/2019
Encana CorpECA4.52%11/1/2019General Dynamics CorpGD4.35%10/23/2019
EQT CorpEQT4.45%10/24/2019Teledyne Technologies IncTDY3.42%10/23/2019
Range Resources CorpRRC4.34%10/28/2019Textron IncTXT3.22%10/17/2019
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Dow Jones U.S. Select Home Builders Index (DJSHMBT)
Top 10 NamesTickerWeight in the indexExpected Earnings Release
DR Horton IncDHI13.56%11/12/2019
Lennar CorpLEN12.89%1/8/2020
NVR IncNVR9.67%10/18/2019
PulteGroup IncPHM7.23%10/22/2019
Sherwin-Williams Co/TheSHW4.56%10/22/2019
Home Depot Inc/TheHD4.27%11/19/2019
Lowe’s Cos IncLOW4.08%11/20/2019
Toll Brothers IncTOL3.88%12/3/2019
Masco CorpMAS2.95%10/30/2019
TopBuild CorpBLD2.54%10/31/2019
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ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk, consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. Due to the daily nature of the leverage employed, there is no guarantee of amplified long-term returns. Past performance is not indicative of future results.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares carefully before investing. The prospectus and summary prospectus contain this and other information about Direxion Shares. Click here to obtain a prospectus or contact Direxion at (877) 437-9363. The prospectus or summary prospectus should be read carefully before investing.

Direxion Shares Risks – An investment in the ETFs involves risk, including the possible loss of principal. Each ETF is non-diversified and includes risks associated with the ETF concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Each Fund does not attempt to, and should not be expected to, provide returns which are a multiple of the return of their underlying index for periods other than a single day. Risks of each Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Counterparty Risk, Intra-Day Investment Risk, for each Bull Fund, Daily Index Correlation/Tracking Risk and Other Investment Companies (including ETFs) Risk, for each Bear Fund, Daily Inverse Index Correlation/Tracking Risk and risks related to Shorting and Cash Transactions. In addition to these risks, there are risks associated with an ETF’s investment in a specific sector, industry, or stocks that comprise each Fund’s underlying index. Please see the summary and full prospectuses for a more complete description of these and other risks of each Fund.

The views in this material represent an assessment of the current market conditions and is not intended to be a forecast of future events. These views are intended to educated the reader and do not constitute investment advice regarding the funds or any security in particular. Past performance does not guarantee future results.

Distributor for Direxion Shares: Foreside Fund Services, LLC.

An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund’s prospectus and summary prospectus call 646-561-9116 or click here. A Fund’s prospectus and summary prospectus should be read carefully before investing.