Earnings season is here, and the US stock market’s furious $9 trillion 2024 rally is facing perhaps its biggest test of the year.
Strategists are predicting that companies in the S&P 500 Index will post their weakest results in the past four quarters, with just a 4.3% increase in third-quarter profits compared with a year ago, Bloomberg Intelligence data show. In mid-June, projections were for an 8.4% rise, and in the second quarter growth soared to 14%.
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