In the materials space, earnings growth will be supported by metals & mining and construction materials. [Materials ETFs Supported by Recovering Economy]
On the other hand, defensive sector telecom services and utilities are expected to continue to fall behind this quarter, with growth rates of 4.3% and 3.6%, respectively. The iShares Dow Jones US Telecom ETF (NYSEArca: IYZ) has decreased 3.6% over the past three months while the Utilities Select Sector SPDR (NYSEArca: XLU) was up 0.4%.
Of the 21 companies that have reported earnings as of Oct. 7, 62% have beat Wall Street estimates, 29% have missed and 9% have met expectations. For revenues, 62% have beat Wall Street estimates while 38% missed.
For more information on market sectors, visit our sector ETFs category.
Max Chen contributed to this article.