Earnings next week will be key to where stocks head from here. There will be a significant jump in the number of companies set to report third-quarter results in the days ahead. While roughly one-tenth of S & P 500 companies reported over the past week, about 20% of the broader index is plans to report next week. Among the more notable names will be Amazon and Tesla , which will serve as precursors to the big slate of megacap results due out the following week. .
By the same token, Butters noted that S & P 500 earnings growth is likely to come in at above 7% for the third quarter, given companies' track record of delivering positive surprises. "If things have worked out pretty well in prior reporting periods," Stovall said. "No reason why it's not going to work out this time as well.
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