This week, Zacks Equity Strategist Mayur Thaker, CFA, discusses:

• A recap of Q2 earnings for the S&P 500, including analysis of earnings by sector and industry group. Mayur sums up Q2 results as ‘spectacular’, with double digit earnings growth that blew past analyst estimates. Equally impressive is that the growth has come from a variety of sectors, including critical cyclical industries such as retail, banks, industrials, and consumer discretionary.

• In previous quarters, Mayur has noted that most of the index’s growth has come from just seven stocks, the “Magnificent 7” mega-tech group, and he warned about concentration risk. However, in Q2 the growth of the index “ex Mag 7” ( the other 493 companies) is bullish—and promising.

• Mayur looks ahead at earnings forecasts for the rest of 2025 and beyond. He notes that tariff threats are weighing on full year guidance, but also that bullish commentary and strong Q2 results are pushing up Q3 expectations. Mayur also provides technical commentary, notably about highly elevated forward P/E, market momentum, and watching the 10-week Average True Range (ATR). Don’t miss this essential recap of Q2 earnings and a look ahead at the rest of 2025.

The views of Mayur Thaker, CFA are not necessarily the views of Zacks Investment Research.

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