Wall Street eyes low rates, earnings after Brexit wipes out US$2tril on world markets

On Friday, the S&P ended within about 35 points of the record. But even if the index eclipses the record next week, not everyone is viewing it as an indication that stocks are poised to then shoot higher.

S&P 500 companies on average are expected to report a 3.9 percent decline in second-quarter earnings from the same quarter a year ago and a 2.3 percent increase in September-quarter earnings, according to Thomson Reuters data. However, estimates for multinationals could be cut due to the Brexit vote.- Reuters- Reuters