What to watch

Key earnings reports to watch next week

The stock market continues to reach new highs, thanks in large part to strong earnings results from U.S. companies. And next week, key reports from tech titans such as Google parent Alphabet, social media powerhouse Facebook and online retail leader Amazon could determine if the rally can continue on Wall Street.

So far, the second-quarter earnings season is off to a good start. The companies in the S&P 500 stock index are collectively on track to post earnings growth of 8.6%, above the 8% analysts expected July 1. And while it’s a slower pace than the 15.3% growth in the first three months of the year, there’s a strong chance enough companies will deliver better-than-expected results to propel earnings growth above 10% for the second consecutive quarter.

“The earnings backdrop is improving,” says Ryan Detrick, senior market strategist at LPL Financial. “And two straight quarters of double-digit profit growth is a nice backdrop for stocks.”

Nearly 200 companies in the S&P 500 are slated to report earnings next week, providing a fresh look at the financial health of Corporate America and the domestic and global economy. Other companies reporting results include big machinery maker Caterpillar, home builder Pulte Group, defense contractor Boeing, automaker Ford and consumer-focused stocks, including fast-food giant McDonald’s and soft drink maker Coca-Cola.