Earnings growth is falling short of expectations thus far

Corporate earnings are not meeting expectations thus far. Roughly 160 S & P 500 companies have posted third-quarter results thus far, with their bottom lines growing by an average of just 2.6%, per FactSet. The blended growth rate, which includes the reports already out and estimates for those on the docket, points to overall S & P 500 earnings growing at 3.4% from the year-earlier period. Both of those are below the anticipated 4.2% earnings expansion heading into the reporting period.

Research chief investment strategist Sam Stovall also noted that the bar for this season was especially high. Profits this time last year grew by more than 5% year over year. In other words, companies will have a tougher time meeting expectations. To be sure, the S & P 500 rebounded slightly from a three-day slide on Thursday thanks in part to strong earnings reports. Tesla, Whirlpool and PayPal all reported better-than-expected profits, sending their shares higher.

Singapore Singapore Latest News, Singapore Singapore 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 »

Stock market today: S&P 500 slips as Treasury yields jump; tech earnings eyedStock market today: S&P 500 slips as Treasury yields jump; tech earnings eyed
Source: Investingcom - 🏆 450. / 53 Read more »

Stocks @ Night: S&P 500 Pullback, JPMorgan Earnings, and MoreCNBC's producers highlight market movements as the S&P 500 retreats from its record high, focusing on JPMorgan Chase's earnings release, sector trends, and heavily shorted stocks.
Source: CNBC - 🏆 12. / 72 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: Energy, Basic Materials Expected to Be 2024 Earnings DragsStocks Analysis by Brian Gilmartin covering: S&P 500, The Materials Select Sector SPDR® Fund, The Energy Select Sector SPDR® Fund. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Earnings growth should continue to drive the S&P 500, says UBSUBS believes that the S&P 500's profit growth in the third quarter could be between 8% to 10%, excluding the energy sector.
Source: CNBC - 🏆 12. / 72 Read more »