TREE NEWS reports: CITIC Securities said in a research note that investor focus will shift to the upcoming US third-quarter earnings season as the market decouples from interest rates. LSEG consensus expects S&P 500 Q3 2026 revenue and earnings growth of 1.2% and 45.0% year-on-year, with energy, IT, materials and healthcare all exceeding 50% earnings growth, suggesting profit gains are no longer concentrated in leading tech names. For Hong Kong stocks, fundamentals have bottomed and earnings growth forecasts for major broad-based indexes are being revised upward.
CITIC Securities: US Earnings Growth Broadening Beyond Big Tech
AI take
The notable signal here is breadth: if energy, materials and healthcare are genuinely outgrowing the mega-cap tech complex, the earnings story becomes a rotation narrative rather than a single-theme trade, which matters for anyone positioned around index concentration. The Hong Kong comment is the more actionable thread for regional readers, since upward revisions to broad-based index forecasts suggest the earnings trough there may be in the past. Whether those revisions hold through the reporting season, and whether US breadth survives contact with actual results, is the open question.
Generated by AI for reference only.
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