Earnings estimates have seen the steepest cuts in 7 years, but that doesn't spell doom for the stock market, DataTrek says

• US stocks have withstood interest rate uncertainty so this year, with the S&P 500 up by more than 6%. 
• Stocks have held up even as analysts have cut 2023 S&P 500 earnings expectations by the most in years.
• DataTrek says stable earnings expectations is the best answer as to why stocks have been resilient. 

Stock investors have been knocked around this year as they confront a higher-for-longer scenario for interest rates, but equities have managed to advance as investors see corporate America's largest companies capable of posting relatively solid future earnings, according to DataTrek.