The Financial Post reports in its Thursday edition that there is more pain on the way for the S&P 500 as profit warnings and fears of higher interest rates combine to threaten the key U.S. stock indicator. The Post's Farah Elbahrawy writes that while earnings seasons have usually been positive for equities in the past decade, the upcoming one will hurt stocks, said 55 per cent of the 346 Markets Live Pulse survey respondents. Optimism of a soft landing for the economy is dissipating as stubbornly high inflation keeps central banks hawkish. Bets of higher-for-longer rates, along with grim corporate updates from Fedex to Exxonmobil and Nike, are weighing on market sentiment after strong stock gains made in the first half of the year. "Negative noise from the earnings season will certainly be an element in helping slow the runaway train that is the U.S. market," especially if coupled with economic indicators that suggest further rate increases ahead, said analyst Sophie Lund-Yates at Hargreaves Lansdown. The biggest negative for the earnings season will be the impact of further tightening of financial conditions, said 42 per cent of respondents. Bets remain high for the Federal Reserve to raise rates in July.