A stock market fixated on the Federal Reserve’s fight against inflation is about to see how rapidly rising interest rates have affected companies’ bottom lines.
The S&P 500 has fallen 24% in 2022 as the central bank ratchets up rates and investors attempt to reassess stock valuations and the durability of corporate profits. The third-quarter earnings season that kicks off in earnest this week will give analysts the broadest look yet at how business has held up as costs continue to rise, higher rates threaten demand and a strong dollar squeezes overseas income.
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