There won’t be a whole lot of economic data coming out this week, aside from some numbers on home sales, new and existing.

But there will be quarterly earnings reports from big companies: Coca-Cola; GM; Lockheed Martin; Alaska, American and Southwest Airlines; and two tech heavies — Google's parent Alphabet, and Tesla.

These companies will be reporting their profits, losses, and sales figures for the second quarter of this year and laying out what their C-suites are anticipating and worrying about. All of which can give plenty of insights into where this economy's headed. 

Today brought word from Verizon — which did pretty well — and Stellantis, which didn't. The automaker, which reports in Europe, lost $2.7 billion in the first half of the year — much of that thanks to tariffs — and warned of more pain.

About 15% of S&P 500 companies have reported quarterly earnings so far.

“Overall, the early read from a corporate fundamentals perspective is quite strong,” said Mike Dickson at Horizon Investments.

Starting with the big banks that reported last week — JPMorgan, Goldman Sachs, Bank of America: 

“They came in fairly strong, most beat expectations,” said Chris Haverland at the Wells Fargo Investment Institute.

Haverland expects a lot more beating of Wall Street expectations as the earnings roll in. But that may be due to low expectations.

“I mean, the bar has been set pretty low coming into this earnings season,” said Haverland.

Many companies actually cut their earnings predictions in the past few months — as uncertainty mounted about how much the Trump tariffs would hurt their bottom lines. 

Now that results are coming in, analysts want some questions answered.

“Are companies starting to see impacts from tariffs,” said Rob Haworth at Bank Asset Management. “Are those costs being born by themselves — and so it’s reducing their profits and profit margins? Are they passing them on to consumers? Or are they getting their suppliers to eat those costs?”

Haworth expects to see the biggest impacts on industrial and healthcare companies.

“Steel and automotive tariffs very directly impacting the consumer discretionary sector,” Haworth said. “There’s talk of significant tariffs on pharmaceuticals.”

Expectations are high for big tech — but not necessarily all of big tech.

“You’ve got Apple, Tesla and Google which are still down on the year, and then of course you’ve got Nvidia, Microsoft, Meta up 15, 20%,” said Mike Dickson at Horizon Investments.

The stock market is not the economy. But it does reflect what people and businesses are doing in the economy — spending or saving, investing or hunkering down.

“We do think of this right now as glass-half-full,” said Haworth. “There’s consternation in consumer and small-business sentiment. But the activity remains strong: weekly retail sales, a solid labor market, solid wage growth.”

Meaning, companies can count on fairly strong demand to boost their bottom lines.