Q2 profit growth seen at 10% as reporting period to begin
Nasdaq edges up, S&P 500 ~flat, Dow slips
Tech leads S&P 500 sector gainers; Comm Svcs weakest group
Dollar ~flat; crude declines; gold off >1%; bitcoin down >2%
U.S. 10-Year Treasury yield ~flat at ~4.27%
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Q2 PROFIT GROWTH SEEN AT 10% AS REPORTING PERIOD TO BEGIN
Investors are getting ready for U.S. companies to report on the second quarter, with results from J.P. Morgan Chase JPM.N and other big banks due later this week. Also due this week are results from Delta Air Lines DAL.N.
Analysts as of Friday were forecasting S&P 500 earnings growth for the quarter ended June 30 of 10.1% year-over-year. That compares with 10.6% estimated growth as of July 1 and 10.4% as of April 1, according to LSEG data.
It would be above first-quarter earnings growth of 8.2% versus the year-ago period, based on LSEG data.
Investors are anxious to find out whether earnings can help sustain strong first-half gains in the stock market. The S&P 500 .SPX is up more than 16% so far this year.
(Caroline Valetkevitch)
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