The S&P 500's earnings recession officially ends with a 5% jump in EPS in the third quarter. 82% of S&P 500 companies beat profit estimates by a median of 7%, putting the index on track for 5% year-over-year profit growth. Mega-cap tech stocks drive S&P 500 strength, with Microsoft, Apple, Alphabet, Meta, Amazon, and Nvidia seeing 55% earnings growth in Q3.