Marktzusammenfassung USA

Earnings Will Be Bad. It Could Be Even Worse for the Stock Market
Third-quarter earnings might be better than feared—but they won’t be good enough to save the stock market.

With the S&P 500SPX –0.65%  down 25% this year, investors are hoping that earnings season might be the good news the stock market needs. And the numbers for the third quarter itself might appear to be better than feared. Companies, after all, tend to beat consensus estimates, while analysts, almost across the board, have made that even easier by becoming decidedly less optimistic with their forecasts.
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That’s not reflected in next year’s estimates, however. Since the start of the year, consensus 2023 S&P 500 earnings per share have declined by 2%, to $239, still implying roughly 7% growth next year. Analysts appear to be waiting for more information before adjusting their numbers downward for next year.

That could be a problem for the stock market. The S&P 500 currently trades at a price-to-2023-earnings multiple of about 15 times, down from more than 20 times at the start of the year. But if those estimates are too optimistic, stocks will look more expensive than they do now
https://www.barrons.com/articles/stock-m...eid=yhoof2

Die Inflationsrate ist auch wieder höher, als ohnehin befürchtet, Pepsi mit Preiserhöhungen zu passablen Zahlen (P/E von über 20 bei 10% zu erwartendem Wachstum ist absurd) und Intel reagiert auf die PC Krise mit Entlassungen. Es wird ein kalter Winter für Tech Stocks.

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