Earnings Season Kicks Into Gear, First Look At Q2 GDP This Week

Stocks closed modestly lower on Friday, but the Dow, the S&P, and the Russell 2000 Small-Cap Index all closed higher for the week. The Nasdaq just missed out, but for the record, they are the best performing index of all of them with a 13.28% YTD gain.

Stocks traded in a relatively narrow range all week. But that should change this week as earnings season kicks into gear with 1,245 companies reporting earnings.

We'll also get our first glimpse of Q2's GDP on Friday. Estimates are expecting a spectacular print of 4.2%! The report is also expected to show a big jump in consumer spending, soaring from the previously reported 0.9% to 2.9% now.

The economy is firing on all cylinders.

Although, the markets have been somewhat subdued, notwithstanding the Nasdaq and Russell's double-digit gains.

But as the economy continues to accelerate and companies continue to post record earnings, the market is expected to catch up in a big way for a huge second half.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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