Banks: This quarter, Wall Street banking giants JPMorgan Chase, Citigroup, and Wells Fargo will be releasing their second-quarter earnings reports. It is anticipated that all three of them experienced an increase in net investment income, which is a measure of their lending profits, due to higher interest rates. However, there may be potential obstacles to their profitability caused by a lack of business deals during this period.
BlackRock: The world’s largest asset manager, BlackRock, will be announcing its quarterly results. This comes after they recently submitted an application to the US Securities and Exchange Commission to launch a publicly traded Bitcoin exchange-traded fund. BlackRock’s assets under management (AUM) are projected to have risen by approximately $900 billion to $9.4 trillion in the April to June period compared to the previous year. Additionally, financial services firm State Street is expected to see a growth of about $200 million in AUM, reaching around $3.7 billion in the second quarter of this year compared to the same period in 2022.
Consumer sentiment: The University of Michigan will be releasing its preliminary reading of US consumer sentiment for July. As the economic outlook improves and inflation begins to stabilize, economists anticipate the consumer sentiment index to rise from 64.4 in June to 65.5 in July.
Nasdaq rebalance: To address issues of overconcentration in its index tracking the top 100 stocks on the exchange, Nasdaq has announced plans for a “special rebalance.” The affected companies will be announced today, ahead of the rebalance taking effect on July 24.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
