LIVE MARKETS-US earnings forecast barely changes, but big week ahead

By Reuters News

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US EARNINGS FORECAST BARELY CHANGES, BUT BIG WEEK AHEAD

Expectations for third-quarter earnings growth from S&P 500 .SPX companies barely budged in the latest week, according to LSEG data Friday, although the season picks up the pace next week, with reports from key companies including Meta Platforms META.O and Netflix NFLX.O as well as chip companies.

Earnings for S&P 500 companies are now expected to have increased 30.7% in the third quarter, up from 30.6% the week before, the data showed.

The reporting period kicked off this week, with results from major banks including Goldman Sachs GS.N and JPMorgan JPM.N having mostly a flat to weak reaction in the market.

But coming up, Meta is due to report after the bell on Wednesday, while Netflix is due on Tuesday.

But eyes are likely to also be on reports from semiconductor companies including Lam Research LRCX.O and Texas Instruments TXN.O, also expected next week.

Their results follow recent sharp declines in chip stocks, with an index of semiconductors .SOX down 2.6% on Friday and on track to fall more than 10% this week, which would be its biggest weekly percentage decline since late March 2025.

(Caroline Valetkevitch)

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