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Q2 Earnings Season Kicks Off with These 5 Key Charts

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Second quarter earnings season is upon us. As always, it will be kicked off by the big banks, including JPMorgan Chase. But more importantly, there will also be about a dozen other companies reporting, with many in key consumer products categories.

All eyes will be on the consumer this earnings season. Are they still spending? Will the consumer keep the US economy out of a recession?

These early earnings reports are going to be important. This week we’ll hear from a furniture retailer, an airline, a beverage and snack maker, several big banks and a bellwether for manufacturing and construction.

Will this earnings season provide another catalyst for the bulls to push stocks even higher?

5 of the Most Important Earnings Chart this Week

1.    Bassett Furniture (BSET - Free Report) is coming off a big miss last quarter but it has only missed three times in the last 5 years. Bassett Furniture is a small cap furniture retailer. But furniture has been struggling with home sales falling 30%+ off the 2021 highs. Will Bassett provide insight into the housing market this week?

2.    Delta Airlines, Inc. (DAL - Free Report) has beat four quarters in a row. The shares have rallied in 2024, gaining 15.2%. But over the last month, Delta Airlines shares have fallen 8.1%. Is Wall Street starting to get nervous about what an airline like Delta might report?

3.    PepsiCo, Inc. (PEP - Free Report) continues to be an earnings all-star. PepsiCo has a tremendous earnings surprise track record. It hasn’t missed in 5 years, even with a pandemic raging around the world. But even though the earnings surprise chart looks great, the shares are lagging. PepsiCo is up just 21.9% over the last 5 years, which lags the S&P 500, up 86% over that same period. What will be a catalyst for PepsiCo this quarter?

4.    Fastenal Co. (FAST - Free Report) has missed just 3 times in the last 5 years. Two of those misses were before the pandemic hit in Feb 2020 but the third miss was just last quarter. Was it a one-off? Fastenal shares are down 3% year-to-date but over the last 5 years have gained 96%, which beats the S&P 500 up 86%. Will Fastenal turn it around this quarter?

5.    JPMorgan Chase & Co. (JPM - Free Report) has beat 7 quarters in a row. It has only missed 3 times in the last 5 years which is a great earnings surprise track record. Shares of JPMorgan Chase are hitting new 5-year highs in 2024. It is up 77.6% over that period, but that is under performing the S&P 500, which was up 86%. Is JPMorgan Chase still the leader of the big banks?

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