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According to Goldman Sachs strategist David Kostin and his team, companies continue to spend money even as earnings per share fall.
Balance sheet strength will be at the forefront of third quarter results.
Companies with strong balance sheets will continue to reward shareholders.
Stocks are unsettled by what is happening in the bond market.
On Monday the yield rose 10-Year Treasury Yield to over five percent, a value that has not been reached since 2007. That’s because the Federal Reserve is likely to keep interest rates higher for longer to combat inflation, which in turn drives up the cost of borrowing.