|Bid||63.33 x 800|
|Ask||64.24 x 800|
|Day's Range||63.32 - 63.74|
|52 Week Range||51.96 - 66.80|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||13.70%|
|Beta (3Y Monthly)||0.82|
|Expense Ratio (net)||0.42%|
Wall Street suffered its worst daily drop since late August and was off to the worst start to a quarter in about a decade with two consecutive days of decline.
Cheaper valuation, better earnings growth prospects, solid performance in Stress Test, dividend hike announcements and less chances of a rate cut should position financial ETFs in a good spot in 2H.
A slight flattening of the yield curve may hurt bank stocks' profitability, but underwriting of several unicorn IPOs should help these financial ETFs.
A broker dealers-related ETF strengthened Wednesday after Goldman Sachs Group (GS) revealed a better-than-expected profit gain under David Solomon's first quarter of leadership as higher equities trading revenue and a surge in merger and acquisition activity offset a dip in bond trading. Goldman Sachs saw a 56% jump in M&A fees, along with higher trading activity on its equity desk over a volatile quarter, despite the dip in bond trading, Reuters reports. “It was a really treacherous quarter, and they navigated it fairly well,” Charles Lemonides of ValueWork LLC told the Wall Street Journal.