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 Kahn.

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 Koston says, we expect the magnitude of EPS beats is likely to diminish

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

Analyst's forecast the MegaCAP AI firms will post sales growth of 17% in the second

quarter year over year.

Over a 12-month period, high-growth 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 lagged the median firm by 32 percentage points when they

failed 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 passed 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 comment sections

of my Wall Street research stories. Lough says Wells Fargo hiked its dividend and will buy back stock.

This increases the attractiveness of the stock, especially as the Fed

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