For the first time in three years, US Quarterly Earnings are Poised to Drop.
Third-quarter earnings of Standard & Poor's 500 companies are now expected to fall 0.1 percent from a year ago, a sharp revision from the July 1 forecast of 3.1 percent growth, Thomson Reuters data showed on Thursday.
That would be the first decline in earnings since the third quarter of 2009, the data showed.
Gary Townsend submits:This morning. Equity futures are lower this morning, with attribution - though there was little incremental - to Fed Chairman Bernanke’s 60 Minutes interview last evening. After fair value adjustment, December SPX futures are down -6.24 points at 1217.70, near the worst levels of the morning.
optionMONSTER submits: By Bryan McCormick US stock index futures are lower this morning after Asian markets fell markets sharply. European shares followed that trend lower, which helped pull US futures into negative territory. At current levels, the indexes have fallen to well-established support levels at the lows of the recent trading range. Those are 1760 for the Nasdaq 100, 1040 for the S&P 500 and 585 for the Russell 2000.
Submitted by Michael Snyder of The Economic Collapse blog, There are a dozen significant economic indicators that are warning that the U.S. economy is heading into a recession. The Dow may have soared past the 15,000 mark, but the economic fundamentals are telling an entirely different story. If historical patterns hold up, the economy is heading for a very rocky stretch.
Suncor Energy Inc. has the greatest potential for an upside surprise among its peers when the energy sector reports first quarter earnings in the coming weeks.
That forecast, from Barclays analyst Paul Cheng, calls for Suncor to earn 87¢ per share, versus a consensus expectation of 67¢.
It could be a couple of weeks until we know the true effect of the latest US debt debate in the markets, but there are still no clear signs that a year-end rally has been written off, writes MoneyShow.com senior editor Tom Aspray.
Stocks had a pretty rough week. Fitch's warning about the risks that US lenders could face if the Euro debt contagion spreads shocked the markets before the close on Wednesday.