As investors prepare for U.S. corporations to report financial results next mont...
NEW YORK - As investors prepare for U.S. corporations to report financial results next month, they could look past recent sluggish growth and find comfort as earnings look set to rebound after the third quarter.
Those comparisons will get “easier” in Wall Street parlance in coming months, with the third quarter set to mark a low point in the recent earnings cycle. Data Friday was in the latter camp. It showed U.S. consumer spending barely rose in August and the business investment remained weak, and some strategists consider the Trump administration’s nearly 15-month trade war with China to be among the biggest risks to the economy and earnings.
For the quarter that ends Sept. 30, analysts are forecasting S&P 500 earnings to fall 2.2% from a year ago, based on IBES data from Refinitiv, putting the period on track to be the lowest quarterly profit performance since 2016.
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