The U.S. stock earnings season is coming to an end: today we’ll watch Carnival and CarMax, and tomorrow the after-hours session will focus on Micron.
The Q3 earnings season has shifted from bank week to the technology late-session grind. Expectations for S&P 500 earnings for the quarter are still in double digits; technology and energy contribute the most. If you remove energy, the growth rate drops another notch; if you then remove technology, it drops again. In other words, this quarter is still really about whether AI capital expenditures can translate into profits.
The tape already has clues today. Carnival’s Q3 revenue is about $8.44 billion, above expectations. CarMax’s earnings per share are $1.16, well above the forecast. Consumer and travel-related stocks came in above expectations, showing it’s not only chip companies that are reporting good news. The real tone-setter is Micron after the U.S. market close on September 30: are the storage price increases still reflecting continued demand from data centers. Option-implied volatility for this event is priced at roughly 10%. Don’t automatically map crypto’s move to “earnings are good, so add to positions.” Treasuries and the U.S. dollar are the real switches for the after-hours session. Bitcoin still needs to hold the 80,700–82,800 range; it won’t clear 85,000–87,300—no matter how good the earnings are—that remains a story for U.S. stocks themselves.
#股票财报季 $BTC $ETH $NVDAB
The Q3 earnings season has shifted from bank week to the technology late-session grind. Expectations for S&P 500 earnings for the quarter are still in double digits; technology and energy contribute the most. If you remove energy, the growth rate drops another notch; if you then remove technology, it drops again. In other words, this quarter is still really about whether AI capital expenditures can translate into profits.
The tape already has clues today. Carnival’s Q3 revenue is about $8.44 billion, above expectations. CarMax’s earnings per share are $1.16, well above the forecast. Consumer and travel-related stocks came in above expectations, showing it’s not only chip companies that are reporting good news. The real tone-setter is Micron after the U.S. market close on September 30: are the storage price increases still reflecting continued demand from data centers. Option-implied volatility for this event is priced at roughly 10%. Don’t automatically map crypto’s move to “earnings are good, so add to positions.” Treasuries and the U.S. dollar are the real switches for the after-hours session. Bitcoin still needs to hold the 80,700–82,800 range; it won’t clear 85,000–87,300—no matter how good the earnings are—that remains a story for U.S. stocks themselves.
#股票财报季 $BTC $ETH $NVDAB
