The second busiest week of earnings season includes four of the Magnificent 7. Chair Powell’s comments will be more important for markets than the Fed’s rate decision.

Better bank earnings and inflation readings sent bond and stock prices higher. Earnings and politics will likely have the most significant impact on markets this week.

Stocks and bonds declined in response to much better-than-expected job growth. This week’s consumer inflation (CPI) report could further pressure yields.

After two years of exceptional stock returns, what does history tell us about what to expect ahead? Looking at the long-term returns and earnings can provide insights.