No "soft Patch" not seen the T2 (the daily investor company) corporate tax

In the second quarter was a "soft patch" for the American economy, probable benefits of business remains strong.

Analysts are projecting a growth of 14% of revenues from S & P 500, driven in part by the energy and materials, John Butters, the earnings at FactSet Research Systems Analyst explains.

But the past six quarters, 70% of the companies beat estimates. Analysts could be defining themselves for another surprise increase.

"Until now, expectations were too high," said Butters. "They in fact were probably a little too weak."

Last quarter was turbulent. Investors had to tackle massive disturbances by the earthquake and tsunami in the Japan, the end of the second round of quantitative and feared relaxation on a default value of Greece. Unemployment crept higher. Expenditures of actual consumption dipped in April and may. But some recent data suggest some momentum as second quarter ended.

"As we hear these companies tell us how they have made, we will really listen to their perspectives," said Linda Duessel, equity investors markets strategist Federated. "We always do, but this time around could be more interesting because of the seriousness of what was there."

No company S & P 500 is scheduled to report this holiday-shortened week. Aluminum giant Alcoa (NYSE: AA - News) will begin the season of gains informally Monday.

But 26 S & P 500 companies that had reported on Friday showed a 20.1% increase in median earnings over the previous year, according to Zacks Investment Research.

"We are off the coast for a very strong start," Dirk van Dijk, head of the Zacks, written in a equities strategist note.

Analysts bumped up their earnings and revenue estimates early in the second quarter for the sectors of energy and materials powered products. They have largely left these projections, even as the price of the raw tapered off the coast in May and June, said Butters.

He asked "are the analysts see this as any kind of a soft patch and they think it will be the request of products going forward, or they have been a little slow to revise their estimates."

Oil and other commodity prices has been rebound Tuesday.

The sluggish economy, a large part of the solid gains in the districts of a few recent come from Asia and other emerging markets.

"The companies will really need to continue to have seen that growth overseas to support the current expectations of earnings and sales growth," said Butters.

But said Duessel expectations grow more modest in the year, even though there are some new brilliant. First indications are that supply chains have rebounded quickly from the Japanese disaster. And the price of fuel, which weigh heavily on consumers, have considerably eased.

"We are vulnerable to a surprise head,"Said Duessel."."

Stocks cheap?

Which suggests a "strong patch" for corporate results in the third quarter, she said.

Butters said the market appears to be also skeptical even mute before earnings estimates. Stocks are traded on ratio price-earnings before 12.6 times, against a more more normal historical average of 15 times.

"We have sort of a disconnect between the expectations of the market gains and what were the expectations of analysts of the gains in the last year." And up to this point, analysts have been proven correct, "says.

Capped Friday week best of the & S P 500 almost two years, that the Greece should avoid a failure in the short term and some economic data from the U.S. more powered repair bright.

Investors will be watching closely Friday jobs report.