Earnings are not providing the proverbial ‘ray of sunshine’

Earnings are not providing the proverbial ‘ray of sunshine’: Tom Essaye Quoted in Forbes

S&P 500 Dips To 5-Month Low As Earnings Season Highlights Struggles Of ‘Magnificent 7’ Tech Stocks To Keep Rally Afloat

Major stock indexes slipped to their lowest levels since May this week. This is as the largest technology companies struggle to hold up the broader market’s gains. An issue on full display amidst the ongoing third-quarter earnings season.

Earnings are not providing the proverbial ‘ray of sunshine’ they did in Q1 or Q2,” Sevens Report analyst Tom Essaye wrote to clients Thursday. This earnings season “has not been good” and “hints at a potentially slowing economy,” Essaye noted.

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