US earnings season begins with big-bank results next week
JPM•Earnings expectations remain high
HSBC Global Investment Research said expectations have risen ahead of the quarter, creating a higher bar for earnings-per-share beats.
LSEG IBES data show S&P 500 companies are expected to post aggregate second-quarter earnings growth of 23.7% from a year earlier, up from the 15.2% growth expected at the start of the year. First-quarter earnings grew 29.4% year over year.
By sector, energy earnings are expected to rise 117.4% year over year in the second quarter, while technology earnings are seen increasing 65.5%.
Banks kick off second-quarter earnings
The second-quarter U.S. earnings season begins next week, with results from the big banks leading the way. JPMorgan Chase and Goldman Sachs are among the lenders due to report on Tuesday.
Investors have been optimistic that profit growth will remain strong after a better-than-expected first quarter for S&P 500 companies, though some market watchers worry firms may struggle to beat elevated forecasts.
