Second Half Earnings Estimates Are Ratcheting Down

FactSet estimates that revenue growth has been 1.8% (vs. a 1.2% estimate at the end of June) and earnings growth has come in at 2.1% (vs. a 0.6% estimate). A 2.1% increase would be the third lowest rate in the past four years AND if the Financial sector is removed earnings for the S&P 500 would have DECREASED by 3.1%. As …

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