Bank Earnings and Inflation Kick Off Earnings Season with a Bang

Earnings season began last week, with 12 S&P 500 companies reporting. Banks and financial companies were a big part of the mix. Better news on consumer inflation (CPI) boosted stocks while lowering yields and expectations for Federal Reserve rate hikes. The S&P 500 soared by over 2.4% for the week, and the 10-year Treasury yield fell from almost 4.1% to 3.8%. The pace and the breadth of the second-quarter earnings season accelerate this week, with 60 S&P 500 companies scheduled to report. A more detailed preview of the earnings season is available here.

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