Second-quarter earnings reporting season gets underway in the week ahead and eye-popping results could validate a market that continues to easily shake off any concerns on its steady march to record high after record high.
The second quarter’s profits for S&P 500 companies are expected to be up 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. The growth will be led by a near 570% increase in profits for industrials, one of the hardest hit sectors during the pandemic.