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Despite the naysayers, earnings could put more sizzle into the stock market's bull run this summer.
"We've had very good gains, for the most part supported by earnings, or anticipated earnings growth," said Tobias Levkovich, chief U.S. equity strategist at Citigroup.
"What we're going to need to hear managements say in their quarterly releases is that they're comfortable with the outlook. The good news is preannouncements are down from what they had been in the past quarter. They seem relatively comfortable with the second-quarter number. The real question is will they cut guidance for the second half. "