S&p 500 Earnings 90 Year Historical Chart

The Fed cut rates twice so far in 2025, with investors anticipating another rate cut at the December meeting. Companies are revising forward earnings guidance higher, consistent with prior years’ trends. These forecasts may change as new information emerges, but the economy and corporate profits remain solid, even in the new tariff environment. Rob Haworth, senior investment strategy director, U.S. The S&P 500’s projected price-to-earnings (P/E) ratio, an important valuation measure, remains above its five-year and ten-year averages.

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“The US equity market’s current combination of elevated valuations, extreme concentration, and strong recent returns rhymes with a handful of overextended equity markets during the last century,” according to Goldman Sachs Research. “Nonetheless, as concentration has risen, so has the idiosyncratic risk embedded in the S&P 500 and investor dependence on the continued strength of the largest US companies,” Snider adds. Fueled in part by spending on AI, the top tech stocks accounted for 53% of the S&P 500’s return in 2025.

S&p 500 Technical Analysis

Strategy currently holds 713,502 bitcoins with an average purchase price of $76,052; with bitcoin’s spot price around $63,000, the company’s unrealized losses are about $8.9 billion. For 2026, it expects earnings per share of $7.87 to $8.02, missing the $8.08 midpoint analysts expected. Monday.com shares tanked 14% after the software maker beat earnings estimates but posted guidance that disappointed Wall Street. Analysts initially expected an 8.3% jump heading into the reporting period.

• But the gap between industrials’ surge and weakness in consumer-facing and rate-sensitive areas shows demand and pricing power aren’t evenly shared.
• By early December 2025, 97% of companies reported quarterly results, with earnings rising 12.9% compared to 2024’s third quarter, significantly better than analysts’ 8% growth expectations.
• SSGA Intermediary Business offers a number of products and services designed specifically for various categories of investors.
• Assessing which stocks offer the best investment opportunity based on their P/E ratios is not always an “apples-to-apples” comparison.
• Roth analyst Eric Handler wrote in a Monday note Roblox’s efforts to expand its presence among adults is working, with 18-year-old and older users seeing 50% year-over-year growth.

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The GICS sectors are Communication Services, Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Real Estate, and Utilities. We continue to build on our legacy of innovation and scale—empowering investors to target investment exposures with precision and confidence. Tap into the income opportunities across 11 S&P 500 sectors

• We pioneered the world’s first S&P 500 ETF in 1993 and the first suite of sector ETFs in 1998.
• A deep dive into sector performance including macro, fundamental, and technical trends driving current opportunities.
• View the latest analysis of S&P 500 Q4 net profit margin performance in this FactSet earnings report.
• Investing across different sectors helps diversify risk and capture growth opportunities in various parts of the economy.
• But as capex is on track to reach 75% of cash flows—similar to tech company expenditures in the late 1990s—spending growth going forward will increasingly rely on debt funding.
• The concentration of market capitalization among a handful of technology companies is also the highest on record.

We pioneered the world’s first S&P 500 ETF in 1993 and the first suite of sector ETFs in 1998. All results are historical and assume the reinvestment of dividends and capital gains. Current performance may be higher or lower than that quoted. Past performance does not guarantee future results.

Market Synopsis

“In the current environment, a globally diversified portfolio allows investors to capitalize on a broad array of opportunities,” says Haworth. Despite 2025 market fluctuations and somewhat elevated stock valuations, most underlying economic data supports the market’s upward trend. “Determining fair value has a lot to do with the underlying industry’s growth rate in which the company competes,” says Haworth.

• It places the most comprehensive market information, news, analytics and trading tools available into a desktop as simple to use as the Internet.
• Roblox on Thursday reported fourth-quarter revenue and losses that were better than consensus estimates, along with a better-than-expected bookings forecast for the current quarter.
• A company might report high revenue, but if its expenses are also high, its earnings—or bottom line—may not impress investors.
• Sector investing Investing assets into one or more sector of the economy.
• For 2026, it expects earnings per share of $7.87 to $8.02, missing the $8.08 midpoint analysts expected.

S&p 500 Earnings Season Is Beating Expectations So Far

U.S. equity futures moved slightly higher on Sunday night. The first trading week of February saw major volatility, with the three major averages surging Friday after seeing sizable losses earlier in the weekly period. The ruling Liberal Democratic Party captured a two-thirds supermajority in the 465-seat lower house, public broadcaster NHK reported.

The performance data quoted represents past performance. Use our sector tracker tool to identify sector leaders and laggards, momentum shifts, underlying drivers. From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence. Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Investors should consult with their investment professional for advice concerning their particular situation. Not for use as a primary basis of investment decisions.

S&p 500 Earnings – 90 Year Historical Chart

Currently, large U.S. stocks’ P/E ratios remain high, which investors at least partially justify by companies generating above average earnings growth. Each ETF holds stocks from companies within a specific sector, allowing investors to customize their portfolios based on sector performance, economic trends, or investment goals. “Healthy economic and revenue growth, continued profit strength among the largest US stocks, and an emerging productivity boost from artificial intelligence (AI) adoption should lift” US stock earnings in the coming years, Ben Snider, chief US equity strategist, writes in the team’s report.

Investors may overweight sectors expected to outperform or underweight those facing headwinds. You can invest in sector ETFs to tilt a Everestex forex broker portfolio toward specific economic themes, hedge against sector-specific risks, or enhance diversification. State Street Investment Management offers 11 Select Sector SPDR ETFs for broad exposure to each of the 11 GICS sectors. A Select Sector SPDR ETF is a fund that provides targeted exposure to one of the 11 sectors of the S&P 500.