The beginning of the third-quarter earnings season has been relatively lackluster. Economists at UBS analyze equities outlook.
US earnings set to improve, despite slow start
We continue to expect S&P 500 EPS growth of 3-4% in the third quarter, representing a beat of a similar magnitude relative to consensus expectations.
Overall, we expect earnings growth for the S&P 500 to be flat this year, followed by 9% growth next year.
We maintain our June 2024 and December 2024 S&P 500 price targets of 4,500 and 4,700, respectively, from 4,224 at the end of last week.
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