Industrial earnings take center stage in third quarter with trade, economy in focus

Third-quarter earnings overall for industrial companies are expected to rise by just 0.7% from a year earlier, according to IBES data from Refinitiv. That would represent a better performance than for the full S&P 500Profit declines are expected for the tech .SPLRCT, energy .SPNY and materials .SPLRCM sectors, while companies overall are facing tough comparisons with results from a year ago, when they benefited from a big corporate tax cut.

For industrial companies, Aguilar said, a critical factor is whether they ramp up capital spending, which could depend on U.S.-China trade tensions yielding a clearer picture of the business environment. 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.

Carol Schleif, deputy chief investment officer with Abbot Downing in Minneapolis, said that Friday’s developments show some movement in the U.S.-China trade tensions, but uncertainty remains for companies.

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