I am providing you with a second commentary because it is worth noting how positive the earnings were for the 3rd quarter. Markets move on earnings, and it appears that strong earnings are prevailing in the economy.
According to FactSet Research, as of last week, 64 percent of S&P 500 companies have reported results for the third quarter of 2025. Of those, 83 percent reported earnings surprises to the upside, while 79 percent beat revenue expectations. The overall blended earnings growth rate for the S&P 500 stood at 10.7 percent last week (1.5 percent higher than the previous week), and better than the 7.9 percent growth that was expected as of September 30th.
If we maintain an earnings growth rate above 10 percent, it would mark the fourth consecutive quarter of double-digit earnings growth. As we are now past the halfway mark for the earnings season, it becomes more difficult for individual companies to have an impact on the overall blended earnings figure, with the exception of Nvidia, which reports earnings in a few weeks. When looking at the forward guidance that has been given so far by companies, 28 companies have issued negative guidance while 21 have issued positive guidance.
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