Roughly 20% of the companies reporting earnings this week are AI-related names. These stocks have generally lagged post-earnings, which has created some worry among investors ahead of the results.

Overall, stock prices are weaker outside of earnings season than during earnings season, but what they tell us during earnings season changes that.

Investors have been selling the news this earnings season, resulting in the weakest near-term Post-earnings Announcement Drift in three years. That hasn't been the tell you might think.

Seasonality becomes less favorable in the second half of earnings season now that everyone knows what to expect, but the story is still there.

Earnings guidance remains the story this earnings season, but seasonality becomes less favorable just as the payroll data hits on Friday.

Earnings guidance is the primary story to start earnings season, and is potentially telling us more about the cycle than just upcoming earnings.

Earnings season has its own seasonality, and the earnings guidance so far in July adds support for the trade.

Breadth remains the story ahead of earnings season.

Despite the recent retail sales miss, the consumer remains resilient, and the economy continues to track above estimates, which supports continued upward estimate revisions ahead of earnings season.

Despite rising geopolitical tensions, market internals remain little changed, and, ultimately it is the market that makes the news.