Second-quarter earnings season is likely to create a positive backdrop for stocks, at least temporarily. A handful of industrial, financial, transport and tech companies will set the early tone for the quarter in the coming week. The first Dow component to report is Alcoa, reporting after the market close Monday, along with railroad company CSX. Intel reports Tuesday, and Google and J.P. Morgan are Thursday. General Electric, Bank of America and Citigroup all release results Friday.
Stocks this past week advanced more than 5 percent, the best performance in a year, in part in anticipation that those earnings will be strong. But it's the market correction that started in late April that has made the focus on this quarter's earnings reports even more intense, as traders look to find signs from corporate America that the economy is not as weak as investors fear. In addition to earnings, there is a string of fresh economic reports, including retail sales and inflation data. The Treasury also plans to auction $69 billion in 3-year and 10-year notes and 30-year bonds next week.
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