Anxiety Grips the Stock Market at the Start of Earnings Season

Banks including JPMorgan Chase & Co. are scheduled to kick off earnings season this week as analysts forecast a 7.4 percent increase in second-quarter profits for companies in the S&P 500 Index. While it would be the fourth consecutive period of expansion, the projected pace is about half the rate posted in the previous three months. With valuations approaching the highest level since the dot-com era and angst over monetary policy growing in the market, the sense now among investors is that failure to deliver would have larger consequences.

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