Financial Sector ETF Gains 1.3% on Golden Cross Signal Before Q2 Earnings
JPM•The Financial Select Sector SPDR Trust jumped 1.3% on July 9 after its 50-day moving average crossed above the 200-day moving average, forming a bullish golden cross. JPMorgan shares advanced 2% as investors positioned ahead of its upcoming second-quarter earnings release.
1. Golden Cross Formation
On July 9, the Financial Select Sector SPDR Trust’s 50-day moving average rose above its 200-day moving average, creating a bullish golden cross and sparking a 1.3% rally in the sector.
2. JPMorgan Stock Reaction
JPMorgan shares outperformed peers with a 2% gain as technical traders increased positions, viewing the golden cross as a buy signal ahead of earnings season.
3. Earnings Season Outlook
The bank is set to report second-quarter results later this week, with investors focused on net interest margin trends and trading revenue to assess profit momentum.
