The second quarter earnings season is set to kick off this Thursday with industry leaders such as Delta Air Lines (DAL) and PepsiCo (PEP) offering insights into the transportation and consumer goods sectors. The financial sector will take center stage on Friday, with banking giants JPMorgan Chase (JPM) and Wells Fargo (WFC) scheduled to unveil their quarterly results.

As the earnings season unfolds, investors are particularly focused on what these reports might reveal about market concentration concerns. Of special interest is the performance of the Magnificent Seven stocks — the grouping of major tech companies — that have disproportionately driven market gains (^DJI, ^IXIC, ^GSPC) in recent months.

Catalysts anchors Seana Smith and Madison Mills break down the details.

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This post was written by Angel Smith