(XLF) exchange-traded fund, which owns most of the top bank stocks, is up nearly 20% this year.
Higher yields make lending more profitable for banks. (BLK) are just a few of the companies on tap to post their results.Īccording to data from FactSet Research, overall earnings for the S&P 500 should increase 24.5% in the quarter from a year ago and financial sector earnings are expected to surge nearly 80% from the first quarter of 2020.īank stocks have surged this year as long-term bond yields have picked up. Now it’s time for Corporate America to prove that investors should believe the hype.Ī slew of big banks and other financial firms will report their first quarter earnings next week, giving the market its first glimpse of just how strong profits might be this year. The Dow and S&P 500 are at record highs thanks to Wall Street optimism about Covid-19 vaccines, federal government stimulus, a rebounding global economy and a surge in value stocks.
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