This week has marked a rare departure from international headlines, as media attention has been centered around numerous government data announcements in the U.S. For starters, many are growing concerned over the federal budget, as several political officials have outlined numerous spending cuts or tax hikes that could have a drastic impact on various corners of the market. While oil saw its price kept in check earlier in the week, gold continues to climb higher, as it makes its way to $1,500 per ounce. Yesterday also saw Zipcar make its IPO with strong results, as many jumped into the rent-a-car firm during its opening trading period. Among all of the news surrounding the U.S., earning season is now underway, and today will be no exception [see also One Year Later: Top Ten Performing ETFs Since the Market Bottom].
Before market open today, Bank of America
Analysts are calling for Bank of America to report EPS of $0.27 and revenues just under $27 billion. Investors should carefully take note of the company's last four earnings reports, which have been extremely volatile to say the least, with an average absolute digression of 187% from analyst estimates. In fact, last quarter the company shocked The Street when it reported earnings 71% below predictions. With reports all across the board, this release should be closely monitored as the day progresses [see also Where Are All The ETF Closures?].
With this major earnings announcement on tap, today's ETF to watch will be the RevenueShares Financials Sector
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