Stock markets around the globe continue to be highly volatile as key indices have sharply corrected since the beginning of October. By earlier this week, the S&P 500 had declined 5.6%, the Eurostoxx 600 had fallen 6.4%, the Nikkei contracted 6.3% and the MSCI Emerging Markets index had shed an additional 7.3% through the close on October 15th. As earnings season progresses, we are seeing positive results from major US financial institutions which are welcomed signs. Bigger picture, analyst expectations for future earnings and sales growth into 2019 and beyond (this week’s chart and admittedly an extension of last week’s) signal further expansion. The risk may be to the upside as strong US economic trends could propel sales and earnings above expectations. However, there are considerable risks at home with upcoming national elections and upward interest rate trends as well as challenging economic conditions in several key international regions.