Industrial Resurgence Broadens Market Rally Beyond Tech Giants
Wall Street's earnings season reveals a pivotal shift as industrial heavyweights outperform expectations. General Motors surged to record highs after upgrading Q4 projections, while 3M and GE Aerospace revised profit forecasts upward—a signal of manufacturing momentum cutting across autos, aerospace, and materials sectors.
The S&P 500's projected 9.3% earnings growth to $574.4 billion understates current strength, with recent beats likely pushing aggregate gains into double digits. This expansion beyond megacap tech provides the rally firmer footing, though trade tensions and inflation risks persist like uninvited guests at a bull market party.