Santoli on the persistent rally | Earnings set to boom | Cramer's week ahead

Big banks are set to kick off the second-quarter earnings season in the week ahead with eye-popping results, offering another validation that the bull market could shrug off any growth concerns and keep marching on.

VIEW IN BROWSER | SUBSCRIBE SAT, JUL 10, 2021 WEEKEND BRIEF EDITOR'S NOTE Big banks are set to kick off the second-quarter earnings season in the week ahead with eye-popping results, offering another validation that the bull market could shrug off any growth concerns and keep marching on.   The quarter's profits for S&P 500 companies are expected to be up 65% from the same quarter a year ago in the depths of the pandemic, according to Refinitiv. The growth will be led by a near 570% increase in profits for industrials, one of the hardest hit sectors during the pandemic. "The second quarter could be as good as it gets for economic growth," said Callie Bost, senior investment strategist at Ally Invest. "Earnings growth may slow, but analysts still expect S&P profits to grow by double digits in the next two quarters. It's crucial not to lose faith in the market just because the economy's strongest growth may be behind us."   Stocks staged a swift comeback to another record high on Friday with banks and other stocks linked to an economic comeback leading the way. With Friday's gain, the S&P 500 posted its sixth positive week in seven and and brought its 2021 gain to more than 16%.   S&P 500 financial sector earnings are expected to double year over year for the period, according to Refinitiv. Major banks recently announced they will boost their dividend payouts after the Federal Reserve gave lenders a thumbs-up as all 23 passed the central bank's stress test.   JPMorgan Chase and Goldman Sachs are due to report on Tuesday, followed by Bank of America, Citigroup and Wells Fargo, which will report Wednesday. Morgan Stanley reports Thursday. Yun Li | CNBC Markets and Investing Reporter @YunLi626 THE WEEK AHEAD Earnings season begins in the week ahead with eye-popping growth set to validate market's 2021 run   MICHAEL SANTOLI'S MARKET COLUMN Persistent stock market rally keeps dips shallow, easily shaking off occasional flashes of worry ACTIVIST SPOTLIGHT This is how activist fund Elliott Management could push Dropbox to boost its profitability   YOUR WEEKEND BRIEFING  Cramer's week ahead: Next week sets the tone for all of earnings season G-20 signs off on tax crackdown, warns on virus variants These are the stocks to own heading into earnings season, analysts say Billionaires fight over what is actual outer space as Branson gets set to launch before Bezos Tesla CEO Elon Musk goes to trial Monday to defend $2.6 billion SolarCity acquisition Cramer's lightning round: Ford and Tesla are at buying levels     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS