The second-quarter reporting season kickstarted last week with earnings reports from big banks and a few other blue-chip stocks.

Muted Expectations. The blended earnings of S&P 500 companies are expected to drop 7.1% year-over-year in the second quarter, FactSet said in its weekly earnings insight report released Friday. If the earnings end up in line with expectations, the quarter would see the largest earnings decline since the second quarter of 2020. It would mark the third consecutive quarter of negative earnings growth.

Only 6% of the S&P 500 companies have reported earnings so far, with 80% of them reporting positive earnings surprises and 63% reporting positive revenue surprises, FactSet noted.

The coming week’s earnings news flow will be headlined by financial and tech earnings.

Financials Earnings Continue To Drop: After JPMorgan Chase & Co, Inc. (NYSE:JPM) led strong financial earnings last week, investors will hear from its counterparts, including:

• Bank of America Corp. (NYSE:BAC)
• Bank Of New York Mellon Corp. (NYSE:BK)
• Morgan Stanley (NYSE:MS)
• PNC Financial Services Group, Inc. (NYSE:PNC)

These companies are scheduled to report Tuesday ahead of the market’s opening. Goldman Sachs Group, Inc. (NYSE:GS) and U.S. Bancorp. (NYSE:USB) will release their quarterly reports ahead of the market’s opening on Wednesday. American Express Co.'s (NYSE:AXP) second-quarter earnings report will drop on Friday ahead of the market’s opening.

A slew of mid- and small-cap regional banks will also report throughout the week.

See Also: Best Bank Stocks

Tech Earnings Trickle In: Given the underperformance in 2022 amid a weak economic climate and inventory overhang, tech stocks are getting back into their groove. Wedbush analyst Daniel Ives is bullish on earnings from the sector.

"We continue to strongly believe 2Q earnings will be another feather in the cap for the bulls with a broader tech rally ahead," the analyst said last week on Twitter.  

"We see an uptick in spending/less cautious environment from CIOs, inflation rolling off, Fed white flag coming, Big Tech beating, FTC/Khan-more M&A," he added.

Notable reports in the coming week include those from International Business Machines Corp. (NYSE:IBM), Netflix, Inc. (NASDAQ:NFLX) and Tesla, Inc. (NASDAQ:TSLA), all of which will report on Wednesday after the close.

Nokia Oyj (NYSE:NOK) and Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) are due to report Thursday ahead of the market’s opening.

The SPDR S&P 500 ETF Trust (NYSE:SPY), an exchange-traded fund that tracks the broader S&P 500 Index, ended Friday’s session at $449.19, down 0.02%, according to Benzinga Pro data.

Read Next: Ahead Of Tesla’s Q2 Results, Analyst Says To Brace For Short-Term Margin Disappointment But ‘Also A Good Recovery Beyond’

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