“Those are phenomenal numbers, but as we said they do not matter for current stock prices,” said Raich. “This is why we are looking at the changes in earnings estimates after companies report and comparing them to prior periods to determine if the underlying trend in profit expectations can stay on an improving path.”

Related: Do Earnings or Tariffs Matter More to the Market?

Other companies expected to report earnings later this week include Delta Air Lines, Citigroup, J.P. Morgan Chase, and Wells Fargo.

For more market trends, visit ETFTrends.com.