The International Monetary Fund cut its global growth forecast for 2023 and sees US growth this year at a meager 1.6%, down 0.7 percentage points from July, reflecting an unexpected second-quarter contraction in GDP.
Corporate results for the third quarter will begin to be released this week, amid reduced earnings expectations due to interest rate hikes and persistent inflation.
Analysts expect earnings of S&P 500 companies to have risen 4.1% in the third quarter from a year ago, versus an 11.1% rise forecast in early July, according to Refinitiv data.
The big US banks will present their quarterly results on Friday, which could offer information on the health of the US economy.
The main Wall Street indices come from a losing streak in recent sessions for fear that the economy will enter a recessionafter recent labor market data suggested more rate hikes by the Federal Reserve.
Source: Ambito
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