NEW YORK ( TheStreet) -- Earnings reports from blue-chip companies in the coming week will provide investors with the first real indication of how the European debt crisis and continued economic stress have affected Corporate America's bottom line. Stocks lost a good deal of value over the second quarter, but the start of July has indicated a sharp about-face in sentiment. The Dow Jones Industrial Average rallied more than 400 points this week alone. The question is whether the bulls will be disappointed next week, further the rally or sell the good news. With recent volatility -- at times inexplicable -- it's been hard to predict. "An important thing to take away from this is that we have to get used to continued volatility," said Curvin Miller, a vice president at Russell & Co. a wealth-management firm for seniors in Fairborn, Ohio. "It's not going anywhere; it's here to stay." > > Bull or Bear? Vote in Our Poll Five Dow components will be reporting next week, starting with Alcoa ( AA) on Monday, Intel ( INTC) on Tuesday, JPMorgan Chase ( JPM) on Thursday and General Electric ( GE) and Bank of America ( BAC) on Friday. Wall Street believes Alcoa earned 12 cents per share last quarter, a reversal from the aluminum-maker's year-ago loss of 26 cents per share, according to Thomson-Reuters. Analysts expect GE to say it added a penny to EPS over the past year, pegging the second quarter at 27 cents. Estimates for JPMorgan and Bank of America represent a tale of two companies, muddled by special factors related to the government's bailout program. The Street is bullish on JPMorgan, believing the firm more than doubled EPS performance -- from 28 cents a year ago to 72 cents last quarter. Analysts are less optimistic about Bank of America's results, estimating the firm's EPS declined 39% to 20 cents per share. The changes are affected by JPMorgan's TARP payback a year ago, as well as Bank of America's stock offering to repay TARP at the end of 2009. "Their earnings reports are all a mess anyway, because it's all fictional accounting at this point," said James Dailey, portfolio manager of the TEAM Asset Strategy Fund. "It's all about how the market reacts to it rather than the numbers."