S&P 500 companies missing earnings at fastest rate in two years

As of October 2024, three-quarters of S&P 500 firms are disappointing on earnings. This is the weakest beat rate in nearly two years. Historical precedent matters: similar patterns preceded the 2015–2016 earnings recession and the pandemic downturn. When most companies miss, those that don't often see outsized stock moves. The broader implication: macroeconomic tailwinds are weakening as inflation, supply strains, and shifting consumer spending weigh on corporate results.