The "new normal" coined by Pimco posited a long era of diminished earnings and stock prices as overleveraged consumers and companies cut back spending. But it's not playing out that way. It seems Corporate America is growing less and less dependent on America.
Goldman Sachs is expected to report a sharp drop in third-quarter earnings before Tuesday's opening bell, due to a decline in trading activity in a market that's been light on volume and volatility for months. Goldman is forecast to report adjusted earnings of $2.28 a share.
Citigroup on Monday morning reported third quarter net income of $2.2 billion, topping Wall Street estimates and marking its third consecutive quarterly operating profit. Citi shares were up as much as 2.3% in premarket trading.
By all accounts, Ford Motor is on a roll, and analysts are hoping to see an upbeat fourth quarter when the automaker reports earnings on Thursday. Compared to other manufacturers, Ford is in an enviable position.