Friday Matters More

Yes, it is very nice that Goldman Sachs & Co. beat analysts’ earnings estimates for its second-quarter earnings, but Goldman is not an indicator of the earnings condition of the financial services sector. Friday will be a better measure of that when Bank of America Corp., BB&T Corp., and Citigroup Inc., not to mention General Electric, all report earnings. Analysts expect $0.24 per share of earnings from BofA; $0.21 per share from BB&T; and a loss of $0.26 per share at Citigroup.

Clear your calendars for Friday. It is going to be an interesting day.

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