"Stock Market Rally Faces Test with Soft Corporate Earnings and Economic Data"

Amazon Prime Day kicks off, serving as an economic indicator for consumer sentiment. JPMorgan, Wells Fargo, and Citigroup report Q2 earnings, with JPMorgan expected to show growth. Delta Air Lines sets the tone for Q2 earnings season, with analysts predicting a jump in earnings. BlackRock and State Street also report Q2 earnings. The stock market rally continues, with stocks like Nvidia, Mastercard, and Dexcom consolidating. Economic data suggests a Fed rate hike in July. The Nasdaq composite had its best first half since 1983, while the S&P 500 had its best first half since 2019.