US Corporate Earnings Signal Economy Is Holding Steady

In the absence of major economic data due to the federal government shutdown, Wall Street is turning to corporate earnings for clues—and so far, the results point to a steady economy.

According to data compiled by Bloomberg Intelligence, about 85 percent of S&P 500 companies thus far have reported better-than-expected profits in their third-quarter earnings reports. If this holds, the third-quarter earnings season is on track for the best performance in four years.