- S&P 500 Energy earnings are expected to grow 114% year-over-year in Q3, the highest of all 11 sectors.
- Average crude prices rose 32% year-over-year to $85.68 per barrel, the key driver of Energy sector earnings growth.
- High hopes for Q3 earnings are outweighing concerns about interest rates and oil prices, per MarketWatch.
- The stock market closed higher on Friday despite rising Treasury yields, higher oil prices and declining consumer sentiment, per Kiplinger.
Quotes
“earnings expected to grow 114% year-over-year, the highest among all 11 sectors.”
“extremely complacent”