Hope for help from central banks to drive Wall Street this week
July 29, 2012 at 11:25 AM ET
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Among the 290 companies in the S&P 500 index that have reported earnings for the second quarter, about 67 percent have beaten analysts' estimates, slightly higher than the long-term average of about 62 percent.
But just 40 percent have beaten on revenues, the worst record since the first quarter of 2009.
More worrisome is the market's outlook. Third-quarter earnings are now expected to decline 0.4 percent from a year ago, compared with an expected rise of 1.4 percent last week, according to Thomson Reuters data.
Also on investors' radar next week is another legal battle in California over patents between Apple and South Korea's Samsung. The trial's outcome could reshape the smartphone and tablet wars between the iPhone's maker and its rivals.
Below, CNBC's Sue Herera looks ahead to what are likely to be next week's top business and financial stories.