US earnings improvement expected, but still a weak quarter | Malay Mail

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NEW YORK, Oct 10 — While good business news has been in short supply, investors may take slight comfort in coming weeks from US corporate earnings that are likely to be bad, but not as bad as they have been. Analysts expect third-quarter S&P 500 earnings to have fallen 21 per cent compared...

Analysts expect third-quarter S&P 500 earnings to have fallen 21 per cent compared with the year-ago quarter, a big improvement from second-quarter’s 30.6 per cent drop that was most likely the low point for earnings this year. — Reuters pic

Earnings reporting will get rolling next week with results from some of the big US banks, likely impacted by near record low interest rates and the pandemic-induced recession. JPMorgan & Co and Citigroup both release results on Tuesday. That could weigh on fourth-quarter guidance and overshadow some of the better-than-expected results, he said.

Companies that have reported so far on the quarter have not seen much cheer from investors, despite their much stronger-than-expected results, some strategists have noted. Among the sectors, earnings from the S&P 500 energy sector are expected to have declined the most, with a projected 115 per cent year-over-year drop, based on Refinitiv’s data.

 

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