The third-quarter earnings season unofficially kicks off this week, and the Street is expecting a modest return to growth after the disappointing first half of 2023. Overall, profits at S & P 500 companies are estimated to rise 1.3% from a year ago. That's not a terribly strong number, but — should it materialize — is a whole lot better than the 0.1% gain and 2.8% contraction in the first and second quarters, respectively. Revenues are pegged to increase 0.9% over last year.
A pedestrian passes a Wall Street subway station near the New York Stock Exchange in New York, U.S., on Monday, June 27, 2022. Money managers betting on a sustained global rebound will be left sorely disappointed in the second half of this crushing year as a protracted bear market looms, even if inflation cools.