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Market Update: 11-25-19

HAVE WE HIT THE EARNINGS BOTTOM?

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

While earnings declined year over year in the third quarter, results still exceeded expectations. Tariffs, ongoing policy uncertainty, and slower global growth have led to this earnings lull, but we remain optimistic that earnings growth bottomed last quarter and is poised to accelerate.

RECAP OF THIRD QUARTER EARNINGS

As expected, corporate America delivered little in the way of earnings growth in the third quarter. S&P 500 Index earnings fell around 2% year over year, about 2 percentage points above October 1 estimates (source: FactSet). That doesn’t sound great, but given the economic headwinds, the result was...

Download the complete PDF with graphs here.

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Susan Jerris

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