Nearly 4 in 5 companies have posted Q2 earnings that beat estimates

The US second-quarter earnings season is well underway. As of Monday afternoon, 87 companies had released their results, with big names such as Amazon, Alphabet, and Microsoft all scheduled to report later this week.

"Q2 earnings season is underway, with 87 companies reporting so far. The good news: 78% percent of them beat estimates, by an average 6.2%. We have to wait another week to see if we get a similar bounce as in Q1," Timmer said in a tweet on Monday. Goldman Sachs saw a 58% slump in second-quarter profits from a year earlier, thanks to a drop in investment banking and trading revenue.

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