Third-quarter industrial sector earnings follow a closely watched survey earlier this month that showed U.S. manufacturing activity tumbled to a more than 10-year low in September. Industrial companies also are among those most at risk from the lingering trade dispute between the United States and China."This third quarter earnings season is going to be really important for industrials,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
The industrial stock sector has climbed over 19per cent this year, slightly ahead of the 18.5per cent gain for the overall S&P 500 . But while the broader market has hit all-time highs this year, the industrial sector has yet to breach its record peak from early 2018 and currently trades about 5per cent below it.
Expectations for a sharp increase in overall earnings next year rests in part on the economy avoiding a recession, said Omar Aguilar, chief investment officer of equities and multi-asset strategies at Charles Schwab Investment Management in San Francisco. U.S. and Chinese officials culminated talks in Washington last week with U.S. President Donald Trump outlining the first phase of a deal to end their trade war, including suspending a threatened tariff hike.
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Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »