Analysis-Expected rise in US earnings could be balm for stocks after rough stretch
© Reuters. FILE PHOTO: A trader works on the floor of the New York Stock Exchange in New York City, U.S., September 26, 2022. REUTERS/Brendan McDermidNEW YORK - A resilient economy and strong consumer demand are expected to fuel a slight rise in third-quarter U.S. earnings, which could throw a lifeline to a stock rally that has stumbled in recent months.
After a rough September for stocks,"we need some good news" from earnings season, said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Friday's monthly U.S. jobs report for September was the latest evidence of economic strength. Employment rose by the most in eight months, suggesting consumer demand could stay intact for now.
Investors will watch for signs that higher rates have raised costs for companies, slowing their ability to borrow and grow.
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