Without any sugar-coating, this earnings season hasso far livedup to the expectationthat it would bethe worst since the 2008 financial crisis. Until now, S&P 500 components have posted a 47.4% decline in second-quarter profits with nearly 9% of reports issued. Based on delivered reports as well as expectations, FactSet analysts predict that earnings for the whole index will plummet nearly 45%. This could be the biggest drop since a 69% plunge during the worst times of the Great Recession which stroke the fourth quarter of 2008. Retail, travel and energy companies are in for the biggest declines in sales and profit but some were exempt from this dreadful fate.

After Delta Air Lines, Inc. (NYSE: DAL) delivered a $5.72 billion loss for the June quarter and warned that a "sustainable recovery" is more than two years away, United Airlines Holdings Inc (NASDAQ: UAL) and Southwest Airlines Co (NYSE: LUV) are "on board" this weekas far as earnings reports are concerned.

As for Dow Jones Industrial Average, eight of its components will report this week as will 80 S&P 500 members and several big names could offer some better news. Tesla Inc(NASDAQ: TSLA) and Microsoft Corporation (NASDAQ: MSFT) will deliver on Wednesday,July 22nd, 2020.Intel Corporation (NASDAQ: INTC) will be publishing its earnings reportonThursday, July 23rd, 2020. Hopefully, they will provide hints that the pace is picking up.

Some analysts are expecting a narrower loss than a year ago, whereas others are hoping that the company can post a surprise GAAP profit. After it announces results on Wednesday, Tesla could end up meeting every requirement for entering the S&P 500 index, which requires four straight quarters of profitability for entry. The EV pioneer has already achieved three consecutive quarters of profitability,the fourth onecould be added to the index at any time. The anticipation of that event may behelping boost its price as Tesla's stock skyrocketed during the first half of the year. Although Musk has fallen short of some of his bold promises, he did deliver on quite a few. SpaceXput humans into orbitand Tesla became not only the EV brand that consumers want but also the best-selling luxury car.The brand has helped topushthe entire auto industry into electrification.

Twitter Inc(NYSE: TWTR) reports will be released on the morning of Thursday, July 23rd, 2020, andSnap Inc(NYSE: SNAP) will be released onTuesday afternoon, July 21st, 2020. Twitter is bound to have gained some points for taking a stand against social injustice, unlike Facebook, Inc. (NASDAQ: FB). Although, its recent security breach will most likelycome under the spotlight.

Snap's revenue growth is expected to have decelerated from the first quarter to the second quarter.Although,a double-digit ad growth relative to a year ago given the "growing appetite" for Snap's direct-response ads is likely in the cardsand let's not forget that this platform is a favorite among youngsters. Together, Twitter and Snap will shed some light on how the admarket is handling the pandemic.

On Thursday morning, AT&T Inc. (NYSE: T) will report its pandemic performanceandVerizon Communications Inc. (NYSE: VZ) will be releasing its report the following day. Both players saw their equipment revenue dive as stores closed due to COVID-19, but things could be picking back up with eased social distancing measures. Yet, AT&T is also dealing with other challenges. Film production at Warner Bros. has been put to a halt, media channels have been harmed with less ad spending and DirecTV is being hit with an avalanche of cord-cutting.

There's at least one Dow member on the schedule every day in the week ahead. IBM Common Stock(NYSE: IBM) will open the week on Monday afternoon, followed by Coca-Cola Co (NYSE: KO) on Tuesday morning and Microsoft on Wednesday afternoon. As for Thursday, Travelers Companies Inc (NYSE: TRV) and Dow Inc. (NYSE: DOW) will take the morning stage. On Friday morning, July 24, 2020, American Express Company (NYSE: AXP) and Verizon will wrap up the week. And if that's not enough for you, there is also the Chipotle Mexican Grill, Inc. (NYSE: CMG) which is expected to have handled the pandemic and consequent restrictions on indoor dining better than expected.

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