*Note: “Seasonality” refers to an old adage that the period from May through October has been a less reliable time of year for market growth Market Recap: Earnings Resilience, Policy Tailwinds, and a Constructive Outlook Lower expectations could set markets up for positive surprises Earnings estimates for the second quarter of 2025 for the total S&P 500 (based on companies that have reported) are expected to be up +7.0% from the same period last year on +3.8% higher revenues.   These earnings estimates have been lowered in a notable way, and many companies avoid providing...