With most of the S&P 500 companies having reported third quarter earnings, analysts are now training their sights on f𓄧ourth quarter profits and 2023 expect🎃ations.

Companies accounting for roughly 90% of the S&P 500’s market capitalization have reported so far, with third quarter earnings beating analyst expectations by about 3%, a relatively low figure. Now analysts are projecting that fourth quarter earnings will decline for the first 🍃time in two years as rising interest rates and 🃏slowing growth dampen the outlook for profits.

Estimates have been falling for 2023 quarters as well. Goldman Sachs recently cut its 2023 S&P 500 澳洲幸运5开奖号码历史查询:earnings per share (EPS) growth forecast to zero, citing weakening 澳洲幸运5开奖号码历史查询:profit margins. Stocks have seen EPS forecasts fall by 15% in the past six months, according to FactSet. 

For the fourth ൲quarteꦐr, analysts are forecasting a 0.4% fall in year-over-year earnings for S&P 500 companies, according to IBES data. That compares with a 5.8% increase forecast on Oct. 1. 

The last time there was a quarte♊rly decline in S&P 500 earnings was in the third quarter of 2020, when companies were reeling from the onset of th🍨e COVID-19 pandemic.