US INVESTORS HESITANT DESPITE GAINS

NEW YORK: US corporations are reporting annual profit growth for the first time in six quarters, but investors don’t seem too excited about it. The 116 companies in the S&P 500 Index that have reported third-quarter results grew profits by an average 3.8% over the past year. Analysts now expect year-over-year profit will be flat once the June-to-September reporting is finished. While that reasonably could be expected to bolster optimism among investors looking to pile into an ageing bull market with stretched stock valuations, the US presidential election and the threat of an interest-rate hike have kept gains in check. The benchmark for American equity barely budged in the week, finishing 0.4% higher at 2,141.16, as it careened within a rut it’s carved over the past month.