Energy Sector Set for 30% Earnings Rout

We are still in the early innings of the earnings season with only a third of S&P 500 having reported Q4 2023 results. Overall, the blended earnings decline for the entire S&P 500 for Q4 2023 is clocking in at -1.4%; however, that number does not paint an accurate picture of the actual state of the market. According to FactSet data, six of the seven companies in the “Magnificent 7” namely Nvidia Inc. (NASDAQ:NVDA), Amazon Inc. (NASDAQ:AMZN), Meta Platforms (NASDAQ:META), Alphabet…