Illinois Tool Works isn’t a known bellwether, but its earnings show key trends: As export markets cool, profits come from U.S. sales and cost cuts.

Companies in the S&P 500 predict lower third-quarter earnings by a four-to-one margin.

Nearly halfway through earnings season, companies are making profits but falling short on sales. The sluggish economy is taking a toll.

The corporate earnings reports are flooding in this morning, with companies like Southwest Airlines and Verizon telling us how they did in the first part of this year. In recent quarters, companies have padded their profits by cutting costs.

With some tough economic news in the last week or so with the jobs report, and today some evidence of a slowdown in China, Wall Street is anticipating modest reports from corporations.

Corporate earnings season is kicking off. Corporate profits have been the engine behind the stock market's recent rally, but there's worry on Wall Street that earnings are losing momentum.

"What goes up must come down" was true with dot-com stocks and the residential housing market. Investors should understand that the same fate lies ahead for corporate profits, argues James Montier of the investment management firm GMO.

When there's nothing better to do, Wall Street finds something to obsess about. Today, it's profits.

The U.S. Labor Department this morning announced weekly jobless claims fell to 383,000, the lowest level in nearly three years….

And this final note. We talked earlier with John Cassidy about what's changed on Wall Street in the two years since the financial meltdown….