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Finance set to surpass tech as most-profitable U.S. industry
According to Mian’s analysis, U.S. financial services companies in the S&P 500 index are expected to report that they earned aggregate profits of $49 billion in the second quarter. That’s almost 20% of the $247 billion in quarterly earnings expected from the S&P 500 companies as a whole. By comparison, the tech sector is expected to report earnings of $41.5 billion, or 16.7% of the quarterly total.