Financial ETFs In Focus Ahead Of Wells Fargo and JPMorgan Chase Earnings

Earlier this week, aluminum giant Alcoa (AA) unofficially kicked off the Q2 2013 earnings season – posting both hits and misses. After the closing bell on Monday, the company reported a $119 million second quarter loss due to weak aluminum prices, putting the bellwether’s EPS at a mere 7 cents per share. Alcoa’s EPS did, however, manage to beat analysts’ estimates by one cent. And while Wall Street has been somewhat pessimistic about this earnings season, Monday’s results somewhat managed to lift investor optimism [see 25 Wild ETF Charts From 1H 2013]. At the end of this week, two more bellwethers are slated to report their Q2 earnings – JPMorgan Chase (JPM) and Wells Fargo & Co. (WFC). Megabanks Earnings on Tap As talks of Fed tapering continue to dictate the markets, the banking industry has come under the spotlight once again as investors speculate how exactly scaling back the central bank’s massive [...] Click here to read the original article on ETFdb.com. Related Posts: Companies Increase Dividends: ETFs To Play Daily ETF Roundup: Industrial Production Data Inspires Rally Citigroup Rally Lifts Financial ETFs 3 Surprising A+ ETFs Three ETFs Crushed By BAC’s 2011 Freefall