Q3 Earnings Cheat Sheet
- The most active earnings week is October 25 when 35% of S&P 500 Index companies report
- The most relevant earnings week is October 18 when 35% of S&P 500 Index market cap reports
- The final two weeks, November 8 & 15, are dominated by consumer discretionary
- The week of October 25 is dominated by energy and materials
- The majority of financial companies report the week of October 18
- The majority of technology earnings report during a two week period, October 18 & 25
- The earnings consensus for technology, the largest weighting in the S&P 500 Index, is to remain a market tailwind
- The earnings consensus for financials, the second largest weighting in the S&P 500 Index, is to remain a market headwind
- Consumer discretionary has provided the most earnings per share surprises so far year-to-date
- The overall sentiment for earnings is an anticipated shift from "tailwind surprises" to "limited growth headwinds"
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