Q3 earnings for S&P 500 expected to be up 3.4% with positive growth from tech sector

From Nasdaq: 2024-09-20 17:27:00

FedEx reported disappointing earnings, citing weak demand as a key factor. Margins were under pressure as earnings dropped by 23% with revenues down 0.5%. Oracle posted impressive results, staking a claim in the AI sector. Early Q3 results from 7 S&P 500 members have been released, with more to come. Overall, Q3 earnings for the S&P 500 index are expected to be up 3.4% from last year, despite recent negative revisions. Mag 7 companies, including Tesla, are expected to report earnings growth, with tech sector earnings up 11.4%. The U.S. stock market’s Tech sector accounts for 39.1% of the S&P 500 index.



Read more at Nasdaq:: Q3 Earnings Loom: What Can Investors Expect?