As mid-July approaches, the U.S. equity market’s second-quarter earnings season has gradually begun, with all three major U.S. equity indices posting significant gains in the second quarter, including the Nasdaq Composite Index rising more than 21%, the S&P 500 Index gaining nearly 15%, and the Dow Jones Industrial Average climbing close to 12%. However, volatility intensified as June progressed, and technology sectors such as memory chips faced downward pressure in July. According to Goldman Sachs, the U.S. equity market is poised for another strong earnings season, forecasting that S&P 500 constituents will report year-over-year earnings growth of 22% in the second quarter, with AI infrastructure-related stocks accounting for nearly 60% of this growth, including Micron Technology and NVIDIA contributing over 40%. A Goldman Sachs report identified the AI investment boom as the dominant theme, with Q2 earnings expected to confirm strong profit growth. Data shows U.S. information technology company profits are expected to surge by nearly 60% in Q2, trailing only the energy sector’s 122% gain. Major buyers of AI infrastructure—Alphabet, Amazon, Meta Platforms, and Microsoft—will release earnings reports in late July.