US Q3 earnings growth forecast barely budges
U.S. equity indexes red: Nasdaq off most, down ~1.9%
Tech weakest S&P sector; Real Estate leads gainers
Dollar up; gold, crude both down >1%; bitcoin off >2.5%
U.S. 10-Year Treasury yield rises to ~4.25%
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US Q3 EARNINGS GROWTH FORECAST BARELY BUDGES
Analysts are estimating a 4.1% year-over-year earnings gain for S&P 500 .SPX companies in the third quarter as of Wednesday, based on results from 120 of the companies and estimates for the rest, according to LSEG data.
That's barely changed from Friday's estimate for 4.0% growth, which had been negatively impacted by some preannouncements and by also one-time charges, including for Eli Lilly LLY.N.
The latest estimate is still down versus the Oct. 11 estimate for 4.9% growth, based on LSEG data.
Roughly 83% of earnings reports still are beating analysts' expectations.
The earnings season unofficially kicked off Oct. 11 with results from some of the big U.S. banks.
(Caroline Valetkevitch)
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FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:
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A 50 BASIS-POINT FED CUT THIS YEAR NOT OUT OF THE PICTURE JUST YET - CLICK HERE
DOUBLE SHOT, ON THE HOUSE: WAITING FOR RATES TO COME BACK TO EARTH - CLICK HERE
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NASDAQ COMPOSITE: KNOCKING ON THE DOOR OF NEW HIGHS - CLICK HERE
AUTOS AND PARTS TO REMAIN UNDER PRESSURE - CLICK HERE
EUROPEAN STOCKS HAVE HIGH TRUMP PREMIUM PRICED IN - BARCLAYS CLICK HERE
EUROPE STRUGGLES FOR DIRECTION, EARNINGS MIXED - CLICK HERE
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