As the Q4 2025 earnings season gets underway, investors are watching closely to see whether corporate America can justify the record valuations reached at the end of last year. Heading into Q3, analysts expected S&P 500 earnings growth of 7.9%. Instead, companies significantly outperformed, delivering approximately 13.3% growth. This marked the ninth consecutive quarter of earnings expansion, reinforcing the resilience of corporate profits. However, beneath the headline strength, subtle cracks began to emerge—particularly around the consumer. While large technology firms continued to thrive, companies exposed to ... (full story)