Analysis: Expected rise in US earnings could be balm for stocks after rough stretch

📆 8/10/2023 11:14 p. m.
📰 Reuters

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A resilient economy and strong consumer demand are expected to fuel a slight rise in third-quarter U.S. earnings, which could throw a lifeline to a stock rally that has stumbled in recent months.

companies overall are expected to have increased earnings by 1.3% from a year ago, according to LSEG IBES. Though tepid, it would mark a pickup after three quarters of flat or declining profits.

"You've had a rate shock, you've had a confidence shock," Miskin said. "The economy has held up okay, but you need to see it come through in the numbers to support equities." Treasury yields have surged to 16-year highs, dulling the allure of stocks by offering investors comparatively high income on risk-free government bonds.

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Analysis-Expected rise in US earnings could be balm for stocks after rough stretchAnalysis-Expected rise in US earnings could be balm for stocks after rough stretch
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