Financials Drag S&P 500 Into Negative Q3 Earnings Growth

There is quite a bit of separation amongst sectors as far as third quarter earnings growth is concerned. Seven sectors have had strong quarters while three have been weak.

On the weak side, Financials, Consumer Discretionary and Energy have all posted double digit declines in year over year third quarter earnings growth. On the strong side, Telecom, Materials, Industrials, Health Care, Technology and Consumer Staples have all posted double digit increases (with Utilities at 9.4%). These discrepancies leave the total 3rd quarter earnings growth for the S&P 500 at -1.4%.

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