Happy earnings season everyone! Yes its that time once again where the markets will turn their attention to the individual reports of some of the biggest company's on the planet. This earnings season, however will be somewhat special in that the financials are expected to take center stage.
The economically-sensitive financial sector (NYSE: XLF) has been in the news quite a bit since the Brexit issue over seas and this may be the first glimpse into which banks feel they will be effected. Now its not as though we will see anything in their financials, investors will look to specifically what the CEO's are saying on their confernece calls regarding this. JPMorgan Chase (NYSE: JPM) will Thursday morning while Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) will both release their earnings ahead of Friday's opening bell.
The brexit news alone will not be the only issue causing volatility in the Financials. The recent decision by the Fed to leave rates unchanged, and their comments about further rate hikes this year will also be a major focus. Comments made by leaders of the big banks could very well set the tone for the financial sector all the way until next quarter.
Finally we will