S&P 500 Q4 Earnings Off To A Rough Start

As we continue along through fourth quarter earnings season, the results thus far have not been as positive as previously hoped.  Since October 2014, however, we have seen a steady decline in earnings per share consensus for the S&P 500.  Overall earnings per share has fallen from around $31 to its current level of $28.33, from $29.31.  After 25% of companies in the S&P 500 have reported, we have seen earnings per share come in 3% less than what was expected at the start of the quarter.  A majority of the negative results have been caused by special charges, and…