Remember all that talk about 10 days ago about how earnings were coming in so much better than expected? Yeah, not so much. From Bespoke:

Over the first ten days of earnings season, the percentage of companies beating earnings estimates remained above 70%, which would have been one of the highest readings seen over the last ten years.  Over the past two weeks, however, the beat rate has been declining steadily, and it currently stands at just 64%, which is two percentage points above the historical quarterly average of 62%.  There are still a couple weeks left to the first quarter reporting period, so it will be interesting to see if this decline continues.