Wall Street is in the midst of another earnings season right now, and many investors are finding this earnings season particularly pivotal.

Earnings season is typically that time of the quarter when most corporations report their earnings. In this case, the reports are for the year’s second quarter.

With indications that economic growth may be slowing, investors are keeping a keen eye on the earnings reports from the second quarter for major corporations to gauge what’s coming next.

Morristown investment expert Chris Cordaro says analysts may be a little gun-shy about earnings optimism. He says right now with the economy potentially slowing, this is going to be a really important earnings season, because we want to see our corporate earnings continuing to grow, or is that growth declining or perhaps turning negative?

Cordaro says, “we could see a surprise on that because analysts I think have very reticent to put out rosy earnings expectations, based on what happened in the whole financial meltdown.”

He says a big part of why this is so important is that earnings are not driven by headlines, they are real, actual results.