The S&P 500 faces a promising Q3 earnings season, with expected growth of +24% compared to the previous year, marking its 8th consecutive quarter of double-digit growth. This trend is supported by widespread positivity across the sectors, with 14 out of 16 Zacks sectors anticipated to witness earnings growth.
Key contributors include the Tech sector, projected to grow +41.9%, and significant increases in Aerospace (+159.3%) and Energy (+111.9%). Conversely, the Conglomerates sector is anticipated to decline by -35.4%. Notably, Nvidia and Micron are forecasting astounding growth rates of +90% and +938% respectively, bolstering the Tech sector’s outlook.
Q3 earnings reports for the S&P 500 are set to commence on October 13, following initial results from Oracle, Adobe, and Lennar. The early results indicate an increase of +22.6% in earnings with a 14.9% rise in revenues, as 33.3% of companies beat EPS estimates and 66.7% exceeded revenue expectations.
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