Global stocks pin hopes of year-end rally on earnings' resilience

Investors are primed for any bit of good news to help them forget a brutal quarter for stocks that took this year’s value destruction to $24 trillion. A resilient corporate earnings season might give them that.

The MSCI All-Country World Index just wrapped up its third straight quarter of declines, the first time that’s happened since the global financial crisis in 2008.

The 7% drop came as investors grappled with persistently high inflation, a surging dollar and jumbo interest-rate hikes across the world that threaten to choke economic growth. Alongside that, analysts have slashed profit estimates, and a chorus of US and