Earnings season for banks begins Oct. 15, when J.P. Morgan Chase, Citigroup and Wells Fargo are scheduled to announce their third-quarter results, with Bank of America following up the next day.
Banks’ earnings are expected to have held up well despite low interest rates. Still, the Federal Reserve’s policy change means difficult times ahead for most banks.
Standing out among dismal sectors
Here are expected changes in earnings per share for the 11 sectors of the S&P 500 SPX, +0.80%, based on weighted aggregate consensus earnings estimates among analysts polled by S&P Global Market Intelligence:
|S&P 500 sector||Expected change in Q3 EPS from year-earlier quarter|
|S&P 500 Index||-4.11%|
|S&P Global Market Intelligence|