New Delhi, April 21 -- US equities are entering April in an awkward spot. The S&P 500 is still down from its early‑year highs, yet earnings expectations for 2026 have been revised higher by several major houses on the back of resilient US growth, cooling inflation and strong margins in key sectors like technology and industrials. April's Q1 reporting season is where those upgraded forecasts meet reality.

Strategists highlight five pressure points investors should watch closely this month: revenue breadth beyond mega‑caps, margin resilience in a higher‑for‑longer rate environment, guidance for the rest of the year, the durability of the AI‑driven capex cycle, and the health of the US consumer. How corporates ...