Earnings season begins, with expectations on how tariffs affect corporate bottom lines. Major banks like JPMorgan Chase and Citigroup will report, along with tech firms like Netflix. Wall Street predicts a 4% growth in S&P 500 earnings, marking a decline from 13% in the first quarter. Tariffs haven't resulted in significant inflation yet, but their effects may emerge. Consumer and producer price indices are projected to show increases. A KPMG survey indicates that over 80% of companies plan to increase prices due to tariffs in the upcoming months.
"Earnings for the second quarter will heat up this week, with more at stake than usual as they represent a fuller picture on how tariffs are actually affecting businesses and consumers."
"Corporate America doesn't seem to be shouldering much of the future tariff burden, and exporters don't appear to be cutting their prices aggressively to offset the tariffs."
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