Q3 EARNINGS EXPECTED TO GROW 21% Y-o-Y DUE SIGNIFICANTLY TO LOWER TAXES

Starting next Friday, the big money center banks will report Q3 earnings, launching third quarter earnings season, which for the third consecutive quarter is expected to be stellar.

According to consensus, S&P 500 3Q EPS will grow by 21% Y/Y, which while a slight deceleration from the 24% and 26% earnings growth registered during 1Q and 2Q, but will still be enough to extinguish fears for an imminent reversal in record corporate profitability.