Earnings downer
With nearly 60% of companies in the S&P 500 index reporting, third-quarter earnings have thus far disappointed investors.
Sales growth is down 1.9% from a year earlier, and earnings growth is down 0.36%. The consumer discretionary sector has been led by Comcast and Amazon, while revenue and earnings declines at Conoco Phillips and Occidental Petroleum have been a drag on the energy sector’s results.
