Overview

• Financial companies have beaten expectations at a 94.4% rate this quarter yet delivered minimal share gains.
• Netflix exceeded outlooks across key metrics but saw its stock fall more than 5% on July 18.
• Missed earnings are triggering the steepest sell-offs in nearly three years as investors punish any shortfall.
• The S&P 500 closed near record highs on July 18, trading at roughly 22 times expected 12-month profits.
• June retail sales rose 0.6%, underscoring persistent consumer strength behind corporate profit growth.