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Earnings Make The Market Go Up

by Fortem Financial September 29, 2025

Earnings Projections Revised Upward for Q3, Contrary to Historical Trends

As we near the end of the third quarter this week, optimism regarding Q3 earnings growth remains strong. Estimates have been revised upward throughout the quarter, now projecting an 8.8% increase, which goes against the historical trend of downward revisions. Seven of the eleven sectors are anticipated to report positive earnings growth, with four sectors expected to see growth in the mid-to-high teens.

The technology sector is predicted to be the strongest performer, with an expected increase of 22%, while the energy sector is expected to lag behind with a decline of -5.1%. On the revenue front, growth is projected to be around 5.7%, and when excluding energy, it could rise closer to 6.5%. Overall, the fundamentals continue to demonstrate strength.

The economy may be at an inflection point, with the potential to reaccelerate from current levels. Companies that raised prices earlier in the year might be in a better position as a result. If this trend continues, the fourth quarter could conclude the year on a very strong note. Nike's upcoming update later this week will give us our first insight into the consumer goods sector.

Source: Strategas

 

Market and Index Changes for the Week Ending 9/26/2025

Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments. Data provided by Refinitiv.

 

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team@fortemfin.com

 

 

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