Jul 27, 2026 – 4.00pmA resurgence in corporate earnings is losing steam on the eve of the August reporting season as investors ramp up bets that a spike in oil prices will force the Reserve Bank of Australia to lift rates for a fourth time this year and tip an economy heavily dependent on diesel over the edge.Brokers have long pointed to 2026 as the period when S&P/ASX 200 profits would start growing again after three years of declines. Market forecasts suggest earnings will rise 12 per cent, the strongest rate in four years and comfortably above the long-run average of 4.5 per cent.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles