The second-quarter earnings season for big banks is underway, with a focus on the financial sector's performance. While the overall S&P 500 companies are expected to see 8.8% growth, the financial sector may only show a 4.3% increase in year-over-year earnings. Key metrics to watch include interest rates, provisions, and loan growth, with some challenges expected in the market. Non-interest revenue remains mixed, and the M&A market in North America is experiencing difficulties. Despite challenges, some areas like mortgage banking and wealth management may see growth. As major banks like JPMorgan, Citigroup, and Goldman Sachs report their earnings, analysts will be looking for signs of how these financial giants are faring in the current economic climate. The Invesco KBW Bank ETF has shown moderate gains so far this year, reflecting some investor confidence in the industry.