The Globe and Mail reports in its Friday, Jan. 12, edition that U.S. stocks have rallied toward fresh records, bringing Canadian stocks with them. The Globe's David Berman writes that at least one thing, however, stands in the way of a truly upbeat backdrop for investors: strong corporate earnings. With 2023 now in the books, reports for the fourth quarter are on the way. Heavyweight banks such as JPMorgan Chase & Co., Citigroup and Bank of America will report their results on Friday. Over the next couple of weeks, investors will get a look at everything from Microsoft to Netflix to Tesla. Their results will add to our understanding of how some of the world's most influential companies are navigating an economy that seemed destined to slip into recession until a few months ago. Now, though, stock prices are reflecting a far more optimistic future. The Standard & Poor's 500 Index has rallied 15 per cent since Oct. 27, and is now just 1 per cent below its record high two years ago. The bad news is that analysts are growing increasingly downbeat in the near-term. The consensus now expects that companies within the S&P 500 will report fourth quarter earnings growth of 1.8 per cent, year-over-year.