|Bid||0.00 x 1000|
|Ask||0.00 x 3000|
|Day's Range||27.47 - 27.80|
|52 Week Range||23.79 - 30.33|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
MARKET PULSE The Class B shares of Warren Buffett's Berkshire Hathaway Inc. (brk) jumped 5.5% in midday trade, putting them on track for the biggest gain since September 2011, after policy change gave Chief Executive Buffett and Vice Chairman Charlie Mungermore flexibility in buying back Berkshire shares.
Unsurprising to most, the financial sector has acted as the backbone of the uptrend that has dominated the financial markets over the past couple of years. This year has not really been kind to the financial sector, which has seemed to have to battle with overhead resistance on each attempted move higher. Taking a look at the chart of the Financial Select Sector SPDR Fund, you can see that the dotted trendline has acted as a consistent guide for the bears in determining placement.
Goldman Sachs published their second quarter earnings report, besting analyst estimates of $4.66 per share with earnings of $5.98 per share. Financial ETFs like Financial Select Sector SPDR ETF (XLF) , Vanguard Financials ETF (VFH) and SPDR S&P Regional Banking ETF (KRE) extended their recent gains despite the drop in Goldman Sachs shares by 1.64% as of 12:15 p.m. Eastern Time. Goldman Sachs reported profits of $2.57 billion--a substantial increase of 40%.
Goldman Sachs Group Inc. (gs) said Lloyd Blankfein will down as chief executive on Sept. 30 after about 12 years in the role, and retire as chairman and from the firm at the end of the year. The bank named David Solomon to succeed Blankfein in both roles. Blankfein will be given the title of senior chairman after his retirement, and Solomon will join the board on Oct. 1.
MARKET PULSE Shares of Goldman Sachs Group Inc. (gs) fell 1% in premarket trade Tuesday, although the investment bank reported second-quarter earnings and total revenue that rose above expectations, although equities revenue missed.
Financials surged on Monday following strong Bank of America BAC earnings, with peers such as Citigroup C , Wells Fargo WFC and Goldman Sachs GS rallying on the day. As investors navigate the onslaught of big bank reports and volatility in the financial sector, some market watchers are anticipating further upside ahead. Ahead of reports this week such as Goldman Sachs, reporting Tuesday morning, and Morgan Stanley, reporting on Wednesday, Michael Bapis of the Bapis Group at HighTower Advisors told CNBC’s “ Trading Nation ” why he’s uber-bullish on the big banks.
Jul.18 -- Bloomberg's Scarlet Fu, Eric Balchunas and Luke Kawa speak with Sylvia Jablonski, head of capital markets and institutional strategy at Direxion Investments, about leveraged financial ETFs during earnings season, the deep selloff in XLF at the end of the second quarter, flows into semiconductor ETFs and the catalyst for substantial moves in NUGT.