Earnings Season is one of the most important time for the investors as the public companies report their quarterly earnings. There is generally a lot of volatility in the shares during this period.  According to reports, earnings growth is up by 22.4% & revenues are up 8.6% for this quarter.

As we move forward to the second half of the earnings quarter, there is still positivity among investors despite major stocks missed earnings. Most of the Banking and Tech stocks already reported their quarterly earnings and many among these failed to meet the analyst's expectations. In the last week, all the gains were washed out by the disappointing earnings reported by the tech stocks and the bank stocks. The DOW index closed the week on a downside of -0.30% followed by S&P500 and NASDAQ down by -0.66% and -1.46% respectively.

Facebook has been in the news for all the bad reasons. The data scandal has come back to haunt them as they lost $120 billion of market cap in a single day, the biggest fall in stock market history, despite meeting the Wall Street estimates.

Netflix met the analysts' estimates but failed to meet the investor's expectations. They failed in meeting the target number of subscribers for this quarter. Amazon, another FAANG component stock, failed to meet the revenue but doubled up on the EPS reporting $5.07 on the consensus EPS of $2.50.

The recent tax cuts have also helped add a small percentage in the earnings gain. The trade war issues slowly faded away and not all the sectors were largely affected by it. The Automobiles sector and the Materials sector were the most affected by the increase in Steel and Aluminum prices. On the other hand, the recent tax cuts have helped all the sectors, industries, and companies save a little amount of money and reap the benefits.

In this week and the upcoming weeks, there are many other major stocks that are still expected to report earnings. The Information Technology sector might make a comeback after a bad show as there are still some major tech stocks that are expected to report earnings for the quarter.