Strong corporate revenue the 'embodiment' of inflation -CIO

STORY: "If inflation comes down," he continued, "we're worried that as those revenues don't go up as much, and particularly if employment inflation - or the cost of employment and labor - continues to rise as well as interest rates rising, you're gonna see a reduction in margins...."

So far, more than half of the companies on the S&P 500 have reported quarterly earnings, with 69.1% of them beating expectations, according to Refinitiv. Still, analysts expect fourth-quarter earnings to decline 3.1%.