Despite solid retails sales over the last three months and rising consumer confidence, fourth quarter earnings for 2016 don't appear to be showing much in the way of growth. MarketWatch staffer Wallace Witkowkski reports on the on the companies that will be reporting on their retailer earnings for that quarter, including Home Depot.
Outlook for S&P 500 companies appears to be bleak; nearly 9 out of 10 have already reported, with earnings tracking down 3.6% from the fourth quarter the year before:
Much of that decline is due a sharp drop in energy sector earnings and weakened global growth. Excluding energy earnings, the S&P 500 would be looking at 2.7% growth, according to Butters. Additionally, companies with more exposure to international sales fared much worse than their counterparts that rely mainly on U.S. sales,