July 2023 earnings could be the worst since the Great Financial Crisis. Companies are reporting the worst earnings since 2009, with Samsung reporting a 96% decline in earnings due to weak consumer demand. With Q2 earnings season kicking off on Friday with JP Morgan Chase reporting, this could be the worst earnings since 2008. Will stocks survive? After a massive rally this year that saw the S&P rise 18% in the first 6 months of the year, we might be more likely to see a stock market crash than the typical July stock market rally.