Financial Sector ETFs May Not Like What’s Coming in This Earnings Season

With Wall Street banks to kick off the upcoming earnings season, financial sector exchange traded fund investors shouldn’t keep their hopes too high as many expect weak results following the round of interest rate cuts. The Financial Select Sector SPDR (NYSEArca: XLF), the largest financial services ETF, has increased 16.4% year-to-date. Observers warned that poor net interest margins among the biggest U.S. banks could cause the sector’s first year-over-year earnings per share decline in three years, Reuters reports. While mortgage banking and cheap valuations could provide some support to U.S.…

FAA Faulted by Panel in Approving Boeing’s 737 Max

Date: 2019-10-11 18:41:55 Oct.11 — The Federal Aviation Administration’s approval procedure for Boeing Co.’s 737 Max jetliner has been called into question following a report from the Joint Authorities Technical Review. Bloomberg Intelligence’s George Ferguson has the details on “Bloomberg Markets.”