Early reports for the finance sector’s third-quarter 2012 performance indicate that it is on track to best all other sectors, at overall profits of 11.8%, in what looks to be an otherwise lackluster earnings season.

Both S&P Capital IQ and Thomson Reuters expect that the companies of the S&P 500 index in Q3 will post their first year-over-year earnings decline in almost three years. But while earnings expectations are at a three-year low, the stock market index is at a four-year high, said S&P Capital IQ Global Markets Intelligence senior manager Christine Short during an earnings outlook webinar on Monday.

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