Earnings recession is just about over
"So don't buy into the hype that the "earnings recession" is going to weigh on the stock market as we get third-quarter numbers, or as we close out the year.
Chances are we will see a return to growth in corporate profits -- or at worst, a return to break-even and a strong foundation for the fourth quarter and 2017."
A year ago Wall Street was saying the same thing. You have a short memory. One year ago Wall Street was expecting $129.37 for 2016 EPS; it is now tracking at $100.51.