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The last day of the first month of Q2 earnings season kicks off with another huge week of Q2 earnings reports. Though we’ve come off the top of the mountain peak last Thursday, we still see a huge plate of earnings ahead, including 130 S&P 500 companies — perhaps most importantly Apple (AAPL - Free Report) , which reports after the bell tomorrow.

The Zacks Rank #3 (Hold)-rated Apple is expected to bring in $1.57 per share, a +10.56% upswing from a year ago. Revenues are expected to reach $44.71 billion, or up 5.55% from fiscal Q3 2017. The Zacks ESP figure (which predicts actual earnings results beyond simply the consensus) is $1.59, or +1.57%. Over the past 4 quarters, Apple has beaten estimates each time, at an average of 2.77% per quarter.

Eurozone unemployment this morning headlines with a 9.1% number. Though this is far higher than the monthly reads in the U.S., one must consider the laggards within the EU overall, such as countries like Greece, which has far higher unemployment than countries like Germany.

Ahead of the bell today, investment conglomerate Loews Corp. (L - Free Report) reported Q2 earnings of 76 cents per share, exactly as expected by the Zacks consensus estimate. Its CNA (CNA - Free Report) insurance group brought in 88 cents per share, better than the 75 cents expected. The combined ratio of Property & Casualty income was +3.7% year over year. Net operating income improved 18.9% from Q2 2016.

Loews’ Diamond Offshore (DO - Free Report) well outperformed expectations, posting 45 cents per share as compared to the 24 cents expected, on $399.29 million in quarterly sales, far beyond the $386.93 million in the Zacks consensus estimate. This fits with the outstanding performance of the oil drilling firm over the last four quarters, which have all beaten estimates, and by an average of 331.6%. This is largely due to the 900% earnings beat in Q2 of 2016.



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