US earnings forecast barely changes, but big week ahead
SPY•Third-quarter earnings growth for S&P 500 companies is expected at 30.7%, barely up from 30.6% the prior week, as reports from major companies and chipmakers are due next week. On Friday, the S&P 500 fell about 1% and the Nasdaq about 2%, while the VIX reached its highest level since mid-June.
1. Earnings forecast edges up
Third-quarter earnings for S&P 500 companies are now expected to have increased 30.7%, compared with 30.6% a week earlier. The reporting season began this week with results from major banks, including Goldman Sachs and JPMorgan, which drew mostly flat to weak market reactions.
2. Major reports due next week
Meta Platforms is due to report after the bell on Wednesday, and Netflix is expected to report Tuesday. Investors will also be watching semiconductor companies including Lam Research and Texas Instruments, after the semiconductor index fell 2.6% on Friday and was on track for a weekly decline of more than 10%, its biggest since late March 2025.
