A Reuters survey indicated that Wall Street analysts have cut their Q4 earnings estimates for S&P 500 companies. They now see earnings growth falling 17.6% in the quarter, down from the 10.9% decline they forecast a week ago. Earnings in the financial sector are expected to show a 91% drop, but technology earnings are forecast to have grown 26%.
This is actually a positive for the future. Reduced expectations are easier to meet or exceed.
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