Macro Focus: Q4 Earnings Outlook 11.9% vs 8.3% Expectations as S&P 4th Consecutive Growth

As of January 30, 33% of S&P 500 companies have released fourth-quarter earnings, with FactSet data showing analysts estimating a 11.9% rise in earnings per share for the period. If realized, this would mark the 10th consecutive quarter of annual earnings growth for the index and the fifth consecutive quarter of double-digit gains. Analysts anticipate 8.3% EPS growth, down from 13.6% in the third quarter, reflecting rising expectations, especially in the tech sector, amid continued AI investment and macro themes including U.S. trade policies and a K-shaped economy.