The second-quarter reporting season is entering its final leg.
The past week’s earnings were largely skewed to the negative side. Out of the S&P 500 companies that have reported earnings thus far, roughly 62.3% have beat earnings estimates, 1.4% posted in-line results and 36.3% missed expectations, according to Benzinga Pro data.
Meanwhile, Disney (NYSE: DIS) supported the market with a forecast-beating quarterly performance, with strong domestic park attendance lending support.
Here are the key earnings scheduled for the unfolding week:
Retail Earnings On Tap
Retailer earnings reports help gauge the pulse of consumer spending, which is an important component of economic growth. After all, consumer spending accounts for about two-thirds of the U.S. gross domestic product (GDP).
Consumers remained cash-strapped as inflationary pressure ruled high in the second quarter and ate into nominal income. Headline inflation was hitting fresh 40-year highs in each of the three months of the quarter before cooling off in July.
Investors received a foretaste of what is to come when retail giant Walmart, Inc. (NYSE: WMT) preannounced second-quarter and full-year shortfall, citing food and fuel inflation.
Home improvement retailers such as Home Depot Inc. (NYSE: HD) could have been insulated …