The Financial Post reports in its Tuesday edition that a non-stop rally in U.S. stocks since April is facing a major test as companies start reporting earnings this week. A Bloomberg dispatch to the Post says that the S&P 500 Index has notched one record after another, powered by the so-called Magnificent Seven and all things artificial intelligence. Companies will have to impress investors as expectations are elevated, especially for the megacap tech stocks. Though still robust, big-tech earnings are projected to slow. Analysts estimate that second-quarter profits will rise 9.3 per cent for members of the benchmark over the prior-year period. For the first time since 2022, investors will likely shift their attention to the rest of the 493 firms in the S&P 500. Companies outside of tech are expected to report their first quarterly earnings growth in at least six quarters. "Growth is broadening out and so should the market," Bank of America's Ohsung Kwon and Savita Subramanian said in a note. The Magnificent Seven are on course for a slowdown in growth. Profits are expected to rise by 29 per cent, compared with average earnings growth of 35 per cent in 2023, when the rest of the S&P 500 fell 5 per cent.