Welcome to Seeking Alpha's Wall Street brunch, our Sunday look ahead to this week's market moving events,

along with the weekend's top news and analysis.

Hello, today is Sunday July 7th, and I'm your host Kim Khan.

This week brings the last consumer inflation figures before the Fed meets at the end of the month,

but corporate earnings

will likely drive market momentum. The broader market continues to rally, but concerns

about the breadth of the rally and valuation of the top stocks driving it

continue.

Goldman Sachs equity strategist David Kostin says,

we expect the magnitude of EPS beats is likely to diminish

as consensus forecasts set a higher bar than in previous quarters.

Analysts forecasts the mega cap AI firms will post sales growth of 17% in the second quarter year over year.

Over a 12 month period, highgrowth stocks with elevated multiples,

historically generated roughly the same 10 percentage point reward as low

multiple stocks when beating estimates. However, growth stocks with high valuations lag the median firm by 32 percentage

points when they fail to meet sales expectations, two times the underperformance of

lower multiple stocks. Leading earnings this week are the banking stocks.

All 31 major banks just pass their fed stress tests.

Friday brings reports from Citigroup,

J.P. Morgan Chase, Bank of New York Mellon, and Wells Fargo.

Investors have no reason to change their bullish outlook on Wells Fargo, according to

Chris Lau, who leads to the DIY value investing group, and you may know from the comments sections of

...