No Quarter for Investors?

By Amey Stone

Get ready for single-digit earnings growth. The stock market surged on June 28, as the price of crude oil slipped back from the spooky $60-a-barrel level and new consumer confidence figures showed more improvement than expected. But investors are ignoring -- for now -- the fact that the second quarter is about to wrap up, and year-over-year earnings-growth comparisons are expected to show a sharp drop.

Standard & Poor's predicts second-quarter operating profits will grow just 7.8% over the same thre

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