Earnings beats are now the norm. What the stock market needs to keep rallying

Third-quarter earnings season commenced with major financial institutions reporting results, featuring consensus forecasts for nearly 30% year-over-year profit growth in the S&P 500, up from around 27% three months prior. The technology sector was expected to deliver particularly strong results, with analysts projecting 65% gains in tech profits, increased from an estimated 57% growth in the prior period. Profit growth was also broadening beyond the largest technology companies, with the re