U.S. corporate profit growth stalled in the U.S. last quarter as companies from McDonald's Corp. to 3M Co. saw gains in the world's largest economy eroded by a slump in Europe.
Earnings at Standard & Poor's 500 Index companies, excluding financials, are seen gaining 0.6 percent in the first and the second quarter from a year earlier, according to analysts' estimates compiled by Bloomberg, the slowest growth rate since 2009.
The European debt crisis and a slowdown in China are hurting S&P 500 companies, which derive about 40 percent of profits from abroad. At home, where the S&P 500 Index had its biggest first-quarter rally since 1998, consumer confidence is improving along with the job market — boosting demand for construction companies and retailers.
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