# Financials Leading Wall Street Due North

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Last modified: 2021-07-10

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By Paul Ebeling · 2021-07-10
Tags: Shayne Heffernan on Investments, Stocks, Banks, stocks, financials, Paul Ebeling, WallStreet
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#financials #WallStreet

$DIA $SPY $QQQ $RUTX $VXX

"*There is no 'gloom and doom' in this market, so tune out the Noise"* -- Paul Ebeling

Friday, the major US stock indexes rallied to record closing highs as financials and other economically sectors led the rally. The wk also saw a sharp rally in US Treasuries.

S&P financials led sector gains followed by energy, materials and industrials.

DJIA +448.23 at 34870.16, NAS Comp** **+142.13 at 14701.92, S&P 500 +48.73 at 4369.55

The S&P 500 rallying 1.1% to intraday and closing record highs and the 10-yr T-Note yield rebounding 7 bpts to 1.36%. The NAS Comp(+1.0%) and DJIA (+1.3%) also closed at record highs, while the Russell 2000 (+2.0%) outperformed

- S&P 500 +16.3% YTD
- Russell 2000 +15.5% YTD
- NAS Comp +14.1% YTD
- DJIA +13.9% YTD

Looking Ahead: Investors will not receive any notable economic data Monday

Next wk: Big banks will be among the 1st to report Quarterly earnings. A big jump in quarterly earnings is expected to mark a peak for US profit growth in the recovery from last year's virus-induced correction, note that the correction was healthy.

Analysts expect earnings growth of 65.8% for companies in the S&P 500 index in the Quarter, up from a previous forecast of 54% growth at the start of the frame, according to Refinitiv IBES data.

Have a positive weekend, Keep the Faith!

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