S&P 500 Earnings Update
After concluding the busiest week of earnings season, without about 75% of S&P 500 companies reporting, aggregate results show sales growth of 3.01% and earnings growth of -0.99%.
At the start of earnings season a few weeks ago, estimates for Q3 earnings growth touched a low of -3.77%. I mentioned in the member chatroom of EPB Macro Research that I expected the final numbers to be roughly 0% to -1% as companies typically "beat" a lowered bar. Earnings growth of -0.99% represents a sequential deceleration from the 2.26% growth in Q2.