The second-quarter earnings season is in full swing, with strong consumer performance boosting corporate profits. However, stock market reactions have been subdued, indicating that positive news may already be factored in. Financials and companies like Netflix and United Airlines exceeded expectations, but saw little market impact. The market is penalizing results that fall short, with combined profit and revenue beats being rewarded the most. Big Tech giants and other major companies are set to report earnings next week. Bank earnings, driven by record trading revenues, offer a positive sign for the economy. Consumer resilience is evident in strong earnings from various sectors like airlines, food and entertainment. Retail sales figures showed continued strength, with positive outlooks crucial for investor confidence amidst uncertainties. Second-quarter earnings estimates have been lowered, with companies needing strong guidance to satisfy investor expectations.

Read more at Yahoo Finance: After Stock Market’s Torrid Run, Earnings Misses Face Punishment