NEW YORK - U.S. companies are preparing to report third-quarter results following a rocky few months in which they grappled with a U.S.-China trade conflict undermining the business environment and an overall economy that has been showing signs of struggling.
Analysts are forecasting a 3.2% decline in earnings for the quarter from a year ago, based on IBES data from Refinitiv, although given the historic trend that many companies’ earnings will surpass analyst estimates, the quarter could end in positive territory. Materials and energy, two cyclical sectors that are particularly sensitive to the overall economy as well as the trade dispute, also are forecasted to post big year-over-year declines in earnings. The biggest U.S. banks are also expected to report a slight earnings dip.
During the second quarter, 17% of S&P 500 companies mentioned negative impacts from the tariffs, according to Bank of America Merrill Lynch strategists.
Ready to be shocked ? This won’t be pretty,America is in a recession right now,this week will prove it and remember these companies have fudged the numbers to make it look better than it really is.The Trump economy.
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