Earnings season starts again next week, and many companies have been issuing guidance numbers as to what analysts and investors should expect. And those numbers have been disappointing, to say the least. Roughly 80 percent of companies that have made pre-earnings announcements have made negative ones, according to Strategas Partners.
Strategas says there haven't been so many negative announcements since 2001, when we were in the midst of the dot-com collapse. The consensus from the Wall Street analysts is that earnings for the S&P 500 will decline by about 1.7 percent, according to data from S&P Capital IQ.
As is traditional, Alcoa will kick off earnings season when it makes its announcement next Tuesday. Wednesday brings reports from Marriott, Family Dollar and Monsanto - a broad enough group such that we might have very quickly a good idea of where this season is headed.
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