Wall Street analysts are predicting another round of strong profit growth for US blue-chip companies in the third quarter, underpinned by a robust economy, corporate tax cuts and share buybacks.
Consensus estimates point to a19.2 per cent jump in earnings per share for the three months to the end of September versus a year ago, according to FactSet. That would follow about 25 per cent growth in each of the first two quarters of 2018 and, if it proves true, would be the strongest three-quarter stretch since 2010.
The forthcoming reporting season will heat up at a time when investors are grappling with a sharp uptick in yields on US Treasury bonds, which sent equities lower late last week.
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