The S&P 500 has hovered within sights of 8,000 points since its midsummer rally, but analysts and portfolio managers remain doubtful that the benchmark would cross the milestone despite expectations for strong third-quarter earnings, Reuters reported.
Since the previous earnings season began in July, oil prices have climbed above $105 a barrel from about $84, while the 10-year US Treasury yield reached its highest level since 2002. Higher oil prices and bond yields typically weigh on equities, while November’s midterm elections added another layer of uncertainty.
