Big Banks like JPMorgan Chase & Co. (JPM), Wells Fargo (WFC), and Citigroup (C) have begun reporting their earnings for the second quarter. Some of these banks have been able to excel in the higher for longer interest rate scenario.
US Bank Asset Management Group chief investment officer Eric Freedman joins Market Domination to give insight into what investors should consider as the major banks and other large companies begin to release their earnings figures for the second quarter.
In terms of the earnings results out so far this season, Freedman states: "I think that it’s probably early, at least for this quarter to see it really fanning out. But the great thing about markets (^DJI, ^IXIC, ^GSPC) is that we anticipate before it happens… Again we’ve been actually overweight stocks through equal weight. And that’s that’s a long-winded way of saying that we think that large cap is where you want to be. We want to be exposed to those sectors that actually have not performed as well, but also don’t have as much refinancing risk as small caps, or have a better profitability projection."
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