Goldman Sachs: Every $10 Drop In Oil Adds $4 To 2016 S&P 500 Earnings

Goldman Sachs Group Inc (NYSE:GS) continues to see gains for US stocks well into 2015.  The investment bank has been watching carefully at 3Q earnings releases to determine outlook, growth, etc.  So far, for the third quarter earnings releases, over 70% of firms have reported earnings, with about 32% beating estimates and 49% of firms reported positive earnings per share results.  Overall, we have seen sales rise 5% and earnings per share rise 10%, year over year and that is certainly encouraging.  Being that the Federal Reserve finally ended its QE bond buying program, but Goldman Sachs economists are still…