JPM: Few stocks out there look attractive in this market

JPM: Few stocks out there look attractive in this market

The third quarter earnings season got off to a damp start earlier this week when aluminum giant Alcoa reported third-quarter results that missed Wall Street expectations.

It’s widely believed that Alcoa’s flop has set the scene for the rest of the earnings season. A report out from a JP Morgan earlier this week highlighted the fact that consensus earnings projections for the third quarter have come down sharply since the beginning of the year. Coming into 2016, Wall Street analysts were expecting near 10% year-on-year earnings growth for the third quarter in both the US and Europe. Now the consensus is suggesting a -1% growth in the year-on-year earnings for...