Q3 Earnings Preview: Analyst Predicts Tech Will Triumph While Energy Will Struggle
Portfolio Pulse from Hayden Buckfire
Scotiabank analyst Hugo Ste-Marie predicts that the technology sector will see a 15% increase in earnings year over year in Q3, while the energy sector is expected to face a 24% decline. The S&P 500, tracked by SPDR S&P 500 ETF Trust (NYSE:SPY), is anticipated to have modest earnings growth. Investors are likely to scrutinize Q3 numbers closely, but the earnings bar has been lowered since June.
October 10, 2024 | 7:34 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) is expected to see modest earnings growth of 0.5% quarter over quarter and 3.9% year over year. Investors will closely scrutinize Q3 earnings, but the bar has been lowered since June.
The SPY is directly linked to the S&P 500, which is expected to have modest earnings growth. The lowered expectations since June may mitigate negative reactions to earnings misses.
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