Earnings will rise in Q3 and bring stocks along for the ride, according to Bank of America.
Wall Street expects corporate profits to change little from the third quarter of 2022, strategists at Bank of America recently noted, which would be an improvement from last quarter’s 6% year-over-year drop. And excluding the energy sector, where earnings are projected to fall 38%, S&P 500 earnings are forecasted to grow 5% compared to a 3% ex-energy increase in Q2.
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