Wall Street Awaits Near-Record Earnings as S&P 500 Gains More Than 10% in 2026
Updated
Updated · Bloomberg · Jul 11
Wall Street Awaits Near-Record Earnings as S&P 500 Gains More Than 10% in 2026
3 articles · Updated · Bloomberg · Jul 11
Summary
More than 10% gains in the S&P 500 this year have left investors heading into earnings season asking whether results can justify a rally now priced for near-perfect conditions.
Near-record profit expectations matter more because the market’s usual leaders are not carrying the advance: an index of the Magnificent Seven is up just 3.2% in 2026.
That weak participation means the other 493 S&P stocks may need to deliver stronger earnings and share performance to keep the benchmark rising through the second half.
The setup leaves the rally looking resilient on the surface but fragile underneath, with earnings season becoming the next major test for Wall Street bulls.