It’s corporate earnings season, which means ‘doing the numbers’ not just for the daily gyrations of the stock market indexes but also for how individual companies are doing. The season kicks off in earnest with PepsiCo on Thursday — expected to be OK but not stellar. And then Delta Air Lines on Friday, which is forecast to have exceeded expectations — in spite of surging jet-fuel costs tied to the Iran war — by selling expensive seats to premium travelers.Then next week the rush starts, with a slew of big banks reporting: JPMorgan Chase, Citigroup, Goldman Sachs, Wells Fargo, Bank of America, and Morgan Stanley.After delivering robust results in the first quarter (companies in the S&P 500 reported earnings up more than 28% year-over-year, according to FactSet) what’s in store for the market this time around? It’s not like the second quarter has been all smooth-sailing — for the U.S. economy or corporate America.“Well, there’s that old saying that the market likes to climb a wall of worry,” said Sam Stovall, chief investment strategist at CFRA Research. “Despite trade issues, despite higher oil prices, and now the prospect that the Fed could be raising interest rates, earnings continue to surprise investors.”Jeff Buchbinder, chief equity strategist at LPL Financial, agreed with Stovall.“We’re going to get another 20 percent-plus earnings-growth quarter — it’s almost a certainty,” Buchbinder said. “It will be driven primarily by tech — particularly the semiconductors and memory names that have been such strong performers.”That’s the Magnificent Seven — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — which Buchbinder predicts will be up 50% this year. “But we also don’t want to lose sight of the fact that the earnings environment is improving for the rest of the market,” Buchbinder said. “Non-tech earnings growth could be in the high teens this quarter.”Let’s drill down on a few of those sectors: The big banks start reporting next week, and according to Stovall: “Banks are doing well,” he said. “With the prospect that maybe the Fed could be raising interest rates, the financials are actually picking up.”That’s because they can earn more on money they lend out to consumers and businesses.Energy companies had a boon with higher oil prices, and some consumer-facing brands also likely did well, according to Brian Bethune, an economics professor at Boston College.“Retail, leisure and hospitality, in terms of the spending on the World Cup, [and] beverage companies like Coca Cola, Pepsi,” Bethune said.This is first-and-foremost a big company rally but it’s not only them, according to Bill Merz, head of capital markets research at U.S. Bank.“Growth expectations for the S&P are 24.5% or so,” Merz said. “But we’re seeing mid-cap earnings-growth expectations for the full year up 19%, small-cap up 22%.”Merz said all the basics are in the mix now: Strong consumer spending. Strong business spending. And companies investing heavily in automation and AI to drive higher productivity and more profits to the bottom line.