The second-quarter earnings season could establish a high-water mark for the rebound U.S. corporate profits have undergone since last year’s coronavirus-induced pain.
Overall, S&P 500 company earnings are estimated to have climbed a whopping 65.4% year on year, according to Refinitiv IBES, possibly the biggest percentage growth since Q4 2009, when companies were emerging from the Great Financial Crisis.
However, expectations of slowing economic growth in the second half of 2021 have recently contributed to a rally in U.S. Treasuries, taking benchmark 10-year yields to their lowest since February.
Banks highlight the week’s crop of results, with Goldman Sachs, JPMorgan and Bank of America due to report. Delta Air Lines, UnitedHealth Group and Kansas City Southern also report.