Year to date the Standard & Poor's 500 is down 1.89%, and the Dow Jones Industrial Average is down 3.75%. In the third quarter increased market volatility led to losses of 6.94% for the S&P 500 and 7.58% for the Dow Jones Industrial Average. With the strengthened dollar and struggling energy sector, the U.S. corporate earnings outlook for the third quarter is weak and economists are predicting earnings will decrease sequentially for the first time since 2009. According to FactSet, S&P 500 companies on average are expected to report a year-over-year decline of 5.5%.
In a recent CNBC interview, Brian Reynolds, chief market strategist at New Albion Partners, provided his insight on the current market environment and outlook for third quarter earnings.
