S&P 500 earnings growth pegged at 12%

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S&P 500 earnings growth pegged at 12%
CHICAGO (MarketWatch) -- With 485 of its components having reported second quarter earnings thus far, the S&P 500 has an estimated profit growth rate of 12%, Thomson Reuters said Friday. And, when troubled Bank of America is excluded from the picture, the growth rate is a stronger at 18.1%. Materials and energy were the strongest sectors, with growth rates of 48.7% and 38.4%, respectively, while financials are in the cellar at negative 28.5%.