The Trader 

Market Outlook: Wall Street expects a weak fourth quarter

The Trader

In the Financial Times this morning, based on the fact that most of the US’s biggest listed firms’ Q3 earnings have already been reported, Q4 numbers are expected to grow at a mere 0.8 per cent dragging annualised US economic growth to its lowest level in 4 years. Data from Refinitiv shows that earnings expectations for S&P 500 companies were scaled back from 4.1 per cent as recently as the beginning of October, and 7.1 per cent in July. Classic economists’ thinking while looking through rose-tinted specs.

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