LIVE MARKETS-Tech leads third-quarter S&P 500 earnings growth

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TECH LEADS THIRD-QUARTER S&P 500 EARNINGS GROWTH

Third-quarter financial results on Wall Street have been much stronger than expected, and it may be no surprise that that is thanks in part to reports from the technology sector, which includes such top names as Nvidia NVDA.O.

S&P 500 companies are now on track for a 14.7% year-over-year increase in earnings, according to the latest LSEG data.

Estimated earnings growth for five of the 11 major S&P 500 sectors is 20% or above, with technology .SPLRCT in the lead at 29.9%, followed by financials, with 25% growth.

Moreover, 91% of reports from tech companies have beaten analysts' earnings expectations.

The overall 14.7% S&P 500 growth estimate compares with expectations of 8.8% earnings growth at the start of October.

The third-quarter reporting period for S&P 500 companies is all but done, with results in from 472 of the companies.

(Caroline Valetkevitch)

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