Wall Street faces a tough earnings season: 'Caution probably makes sense right now'

Investors will get a sharper picture of what's happening this week, when 52 S&P 500 companies report. Focus will be on big Wall Street banks as J.P. Morgan Chase, Citigroup, Goldman Sachs and Wells Fargo all report Tuesday. BofA is up Wednesday while Morgan Stanley reports Thursday.and the yield curve remaining inverted. Financials as a sector are projected to see a 2.6% earnings decline.Company analyst calls among the early reporters has yielded a mixed bag of sentiment.

"We're pleased with the efforts ... to mitigate the effects of tariffs and inflation during this period," chief financial officer Holden Lewis told analysts, adding that the company sees no "incremental drag" for either the third or fourth quarters due to tariff impacts.In fact, of the 10 companies thus far who have cited tariff impact, only five have talked about the duties in a negative sense, according to FactSet.

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