Estimates Keep Rising as Q3 Earnings Season Takes Center Stage

Q3 earnings season begins with JPMorgan, Citigroup, and others reporting results. S&P 500 earnings are expected to grow 24.3% YoY with positive revisions across 7 of 16 sectors. However, banks face pressure from rising Treasury yields impacting net interest margins and deal flow. Of 19 companies that have reported, 78.9% beat EPS estimates, though results are heavily skewed by Micron's exceptional performance.