Remember the Old Wall consensus narrative that "earnings have bottomed"?
The key callouts:
- A total of 182 of 500 companies have reported aggregate S&P 500 year-over-year sales and earnings growth for the second quarter of +0.6% and -4.2% respectively;
- 4 of 10 S&P sectors reported negative year-over-year earnings so far;
- Energy sales and earnings growth, -22.6% and -78.7% respectively;
- Information Technology sales and earnings growth, -4.3% and -12.1% respectively;
- Financials sales and earnings growth, -0.5% and -4.5% respectively;