News Formal

Earnings growth should continue to drive the S&P 500, says UBS

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 72%

Investment Strategy News

Stock Markets,Jpmorgan Chase & Co,Wells Fargo & Co

UBS believes that the S&P 500's profit growth in the third quarter could be between 8% to 10%, excluding the energy sector.

Banks have kicked off the third-quarter earnings season on a strong note, and UBS expects this momentum to continue. Investors sent stocks lower on Thursday after September's consumer price index revealed that the pace of price increases over the past year was higher than economists had forecasted. But stocks made a comeback on Friday morning, boosted higher by strong third-quarter results from JPMorgan Chase , Wells Fargo and BlackRock .

Excluding the energy sector, S & P 500 profit growth should be 8-10%," the bank wrote in a note to clients. UBS added that since lower energy prices take some pricing strain off consumers, there's a higher chance for companies in the consumer discretionary sector to post a positive surprise. And despite profit growth broadening out, the "Magnificent Seven" cohort is still expected to lead.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500: Improving Earnings, Strong Economy Make a Case for a Broader RallyStocks Analysis by Ed Yardeni covering: S&P 500, US Small Cap 2000, The Utilities Select Sector SPDR® Fund, The Real Estate Select Sector SPDR® Fund. Read Ed Yardeni's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Goldman Sachs raises S&P 500 EPS, index price target ahead of 3Q earningsGoldman Sachs raises S&P 500 EPS, index price target ahead of 3Q earnings
Source: Investingcom - 🏆 450. / 53 Read more »

S&P 500 Earnings: Financials Face a Tough Compare With Q3 ’23Stocks Analysis by Brian Gilmartin covering: S&P 500, Bank of America Corp, JPMorgan Chase & Co, Wells Fargo & Company. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

S&P 500 Q3 earnings growth continues to be revised lowerS&P 500 Q3 earnings growth continues to be revised lower
Source: Investingcom - 🏆 450. / 53 Read more »

S&P 500 Earnings Preview: Deeper Downward Revisions Set Companies Up for Big BeatsStocks Analysis by Christine Short covering: S&P 500, Goldman Sachs Group Inc, JPMorgan Chase & Co, Wells Fargo & Company. Read Christine Short's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »