"The Bar Is Low": What To Expect From Q3 Earnings, And Why It's All About The Mag 7 Again

On Friday, the S&P 500 closed on its all time high of 6,715 (3rd consecutive ATH close, 31st this year, and there are likely many more to come).

With the government shutdown, traders remain in a bit of a data vacuum (earlier we listed some indicators to watch until regular reporting resumes) but they will have plenty to keep them occupied starting next week when 3Q earnings season kicks off. By the end of this month 68% of companies representing 72% of market cap will have reported, with NVDA, the largest stock in the index, scheduled to report on November 19th.