S&P 500 Hits Record as 70 Companies Raise Profit Estimates, Futures Slip
Updated
Updated · The New York Times · Oct 7
S&P 500 Hits Record as 70 Companies Raise Profit Estimates, Futures Slip
3 articles · Updated · The New York Times · Oct 7
Summary
U.S. stock futures pointed lower Wednesday after the S&P 500 logged another record high, even as investors kept pushing equities higher on profit momentum.
More than 70 S&P 500 companies have raised quarterly profit estimates ahead of earnings season next week, a record according to FactSet, reinforcing expectations for further gains.
Rising interest rates, bond yields and energy prices still threaten that rally, raising doubts about how long heavy corporate spending can withstand higher borrowing costs.
The latest advance extends a run powered by AI-linked enthusiasm and strong Big Tech performance, leaving markets increasingly dependent on earnings growth to offset macro risks.