(By Jared Cummans)The past week was a relatively unstable one for major equities, as markets teetered back and forth based on economic data and outlooks from all over the world. But earnings season will go into full throttle this week, as some of the world's biggest and most significant firms detail their most recent
quarter. So far, we have seen big news from companies like Google, who beat their marks and also announced a share split, shooting the stock upwards. Friday watched both Wells Fargo and JP Morgan beat their targets, though China's weak GDP result overshadowed any win in the financial sector. With the coming week packed full of major earnings, we will keep a close eye on three sector SPDRs that would make any arachnophobic cringe [see also 12 High-Yielding Commodities For 2012
Financial Select Sector SPDR (NYSEARCA:XLF)
XLF is one of the most popular financial funds in the world, with nearly $7 billion in total assets and an average daily trading volume topping 94 million. The fund measures the performance of the biggest financial firms domiciled in the U.S., setting the stage for an important week. The coming trading days will see earnings reports from Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), and Bank of America (NYSE:BAC); all three of which appear in the top ten holdings of this ETF. Together, the three stocks account for approximately 14% of XLF, making this fund an important one to watch as the week unfolds [see also 4 Sector ETFs Up Over 20% YTD].
Consumer Staples Select Sector SPDR (NYSEARCA:XLP)
This ETF seeks to replicate a benchmark that invests in various U.S.