Earnings season gets off to a great start with only two misses

Of the 11 S&P 500 companies that reported earnings before the bell on Tuesday, only two missed Wall Street's estimates.

UnitedHealth, Johnson & Johnson, J.P. Morgan Chase all beat analysts' expectations, while Goldman Sachs and Wells Fargo fell short of estimates.Frederick J. Brown | AFP | Getty Images The unofficial start to earnings season is off to a bullish beginning with companies like UnitedHealth, Johnson & Johnson, and J.P. Morgan Chase all blowing past analysts' expectations, easing concerns that the China-U.S. trade battle would derail the economy.companies that reported earnings before the bell on Tuesday, only two missed Wall Street's estimates.

"Ahead of each earnings season in 2019 the consensus estimates were calling for negative earnings growth but as companies report we see results coming in better-than-feared," said Nick Raich, chief executive officer of The Earnings Scouting Report.are expected to decline by 4.6% this quarter, after growing by more than 3% in the second quarter, according to FactSet. This trend has not played out so far this season.

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Wells Fargo posts earnings miss driven by $1.6 billion expense linked to scandalsThe bank cited the 'lower interest rate environment' for the decline in net interest income and announced a $1.6 billion charge for litigation costs. teejayx6
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