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On October 19, Mohammad Mohber, advisor and assistant to Irans Supreme Leader, said: "I once asked the UN Secretary-General what role he plays in the UN and what powers he has." He was speechless and admitted that he had no real power.FedEx (FDX.N): A General Rate Increase (GRI) will be implemented starting January 4, 2027. This increase will apply to import and export transportation rates, with adjustments up to 14.9%.Market news: Qatar Airways has suspended its Riyadh-Dammam flights until October 24.On October 19, Ukrainian President Volodymyr Zelenskyy stated that Russia launched multiple ballistic missile attacks against Ukraine without prior warning from its partners. Zelenskyy said the Russian military launched 16 ballistic missiles in a deliberate attack targeting Kyiv and its surrounding areas. In addition, the Russian military used over 200 drones of various types. The attacks extended from Kharkiv and Dnipropetrovsk regions to the western Volyn and Rivne regions and the southern Odessa region. The attacks caused casualties, damaged more than 10 energy infrastructure sites, left at least 550,000 households without power, and also damaged medical clinics, schools, subway stations, and residential buildings.October 19th - According to data from the China Passenger Car Association (CPCA), pickup truck sales reached 67,000 units in September 2026, a year-on-year increase of 42.5% and a month-on-month increase of 23%, reaching a high level for the month in the past five years. From January to September, pickup truck sales totaled 522,000 units, a year-on-year increase of 19.2%.

Will Q3 Earnings Help Stock Bulls?

Alice Wang

Oct 25, 2022 16:08


Q3 Results

The third quarter's earnings have so far exceeded many Wall Street forecasts. The S&P 500 has only reported from roughly 7% of its businesses, and bears are eager to point out that the earnings "beating" that have been produced so far have been against expectations that were much lower than they had been.


Bears also point out that the Energy sector, whose profits growth is predicted to be close to +120%, will account for the majority of Q3 earnings growth. With the exception of the Energy sector, the S&P 500 index's Q3 profits are anticipated to be -5.7% lower than they were in the prior year, with 7 of the index's 11 sectors forecast to have negative year-over-year earnings growth.


Exxon and Chevron, two major oil companies, will release earnings reports on Friday.


The Technology sector is at the opposite end of the spectrum, where profits are anticipated to decline by more than -14% in Q3 and more than -9% in Q4 2022.


This week, the biggest tech companies in the world all release earnings reports: Alphabet and Microsoft on Tuesday, Meta on Wednesday, Apple and Amazon on Thursday.


Alphabet's stock is down more than 25% year to date, while Microsoft is down close to 30%, Meta is down close to 40%, Apple is down close to -19%, and Amazon is down more than 30%.


Analysts appear to believe that companies that rely on advertising would suffer the most, while cloud computing is predicted to continue growing, although more slowly.


Investors are also interested in learning how different IT businesses may be impacted by US government sanctions against China. Today's results will be highlighted by HSBC and Discover Financial Services.

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