Later today we'll find out how Apple did over the last few months. And given the recent drop in Apple's stock price, there are questions about whether the company can remain the juggernaut that it's been.

The corporate earnings reports are flooding in this morning, with companies like Southwest Airlines and Verizon telling us how they did in the first part of this year. In recent quarters, companies have padded their profits by cutting costs.

When there's nothing better to do, Wall Street finds something to obsess about. Today, it's profits.

Wells Fargo and Citigroup reported earnings today, and both were doing well until October, when Europe's debt crisis started to take its toll.