Energy 'Biggest Drag' on Earnings Growth, Analyst Bell Tells CNBC
NEW YORK (TheStreet) -- As earnings season trails on S&P Global Market Intelligence analyst Lindsey Bell predicts a negative earnings growth due to the under performing energy sector, she said on CNBC's "Squawk Box" Monday.
"Taking a look at earnings this week as over 200 names are set to report from the Dow [Jones] and S&P 500. Are we finally going to have positive earnings growth this quarter?" Michelle Caruso-Cabrera asked.
"Well I think we're going to get close but not quite there," Bell replied.
Typically, a quarter beats when it hits 350 to 400 basis points and currently Bell estimated a 3.7% growth decrease for the current quarter.
"Energy is still the biggest drag. I mean an 80% decline in earnings growth isn't going to help the index at all," Bell explained.
Excluding the energy sector, growth will be positive by 1%, she commented.
Meanwhile, industrials, technology and consumer discretionary have been leading "with big beats," Bell noted.
The energy sector is expected to see a 1% growth by the end of the year, she added.
The iShares Dow Jones US Energy Sector ETF (IYE) is down by 1.25% to $37.84 this morning.