, Columnist
The Earnings Rally Was Great. Shame It's Over
After a spectacular recovery that has driven U.S. stock indexes to records, there are reasons to believe the gains will fade.
The earnings party looks to have ended.
Photographer: Steve Cicero/Corbis EntertainmentThis article is for subscribers only.
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The third-quarter earnings reporting season is almost over, and passed without major upset. For an explanation of the latest round of records for the S&P 500 and other major U.S. indexes, look no further. Corporate America has completed a remarkable recovery. But maybe it’s best not to expect the improvement to continue. Here’s some context.