Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “Once we get past this week’s CPI and PPI inflation reports and next week’s FOMC meeting, the next major market catalyst will be Q3 earnings,” DataTrek’s Nicholas Colas said in a note this week.
According to data from FactSet Research, earnings growth expectations for the S&P 500 stand at an increase of 3.7% for the third quarter, down sharply from expectations of 9.8% growth at the end of June.
Colas points out analysts have cut Q3 earnings expectations over the last 2-3 months for every sector in the S&P 500 except energy”….
Read the full article here on Yahoo Finance!