Summary :
One of the more fascinating anomalies from this earnings season has been companies reporting earnings below consensus estimates rising rather than falling. The energy and health care sectors were the largest drivers of the improvement in the second quarter blended earnings this week. Despite the increase in second-quarter estimates, expected earnings growth for the calendar year 2022 held steady, implying a decline in the earnings estimates for the second half of the year.
In addition to earnings, market participants will be keen to see the July jobs report on Friday.
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