S&P 500 Earnings: Are The Tariffs Fully Discounted And May '25 Core CPI This Coming Week

  • Despite the mainstream financial and regular media frenzy around tariffs, returns YTD have been a nothingburger. Expected growth rates for Q2 and Q3 '25 S&P 500 EPS and revenue growth rates have ticked higher this week, though barely so. Technology is still on track to have a solid year of sector earning growth, just a slower rate of growth than what was expected 5 months ago.