Just Awful: An Update On S&P 500 Earnings

A total of 491/498 S&P 500 companies have reported aggregate sales and earnings growth down -2.3% and -8.5% respectively.

HERE'S THE BREAKDOWN BY SECTOR:

• So far, 6 of 10 sectors have reported negative sales and earnings growth;
• Our favorite sector short, Financials (XLF), reported sales and earnings growth down -1.7% and -14.2%;
• Energy (XLE) sales and earnings growth down -30.1% and -109.1% respectively;