Treasury Action: Q2 earnings reports are hot and heavy next week
Treasury Action: Q2 earnings reports are hot and heavy next week and will be a major driver for the markets. Financials will help lead the parade with Goldman, BoA, Morgan Stanley and a number of other mid-market banks, although nearly all sectors will be represented. Early in the week there's Netflix, Johnson&Johnson, CSX, Harley-Davidson, and T-Mobile, followed later in the week with Microsoft, e-Bay, Visa, GE, Synchrony Financial, and Schlumberger. Earnings beats from the likes of Wells Fargo, JPMorgan, and Citigroup have added to expectations of a good season, though worries over lower trading revenues have weighed. Expectations are still for about a 10% profit growth this year, and that's helping Wall Street add to record highs.