In Fourth Quarter, S&P 500 Earnings Are Expected to Decline 12%
That is relative to the same period in 2019. Sales are forecast to be 6% lower.
Earnings season kicks off this week, starting with several of the largest U.S. banks. JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) will all report on Friday. Most of the S&P 500 reports over the following month.
Wall Street expects another down quarter although it might not matter much. Bullish and future-focused investors have been happy to look past near-term speed bumps on the road to the post-pandemic recovery. Instead, investors will likely pay more attention to how management teams speak about that future.