Wall Street Insights reports that the Q3 earnings season for U.S. stocks will fully kick off next week. Goldman Sachs' latest forecast indicates that the S&P 500's Q3 earnings per share (EPS) growth is expected to reach 27% year-over-year, the highest since 2021. NVIDIA and Micron alone are projected to contribute approximately one-third of the index's earnings growth, with growth highly concentrated among a few technology and energy giants, and market breadth continuing to narrow. Investment banks like Morgan Stanley have expressed concern, believing that the divergence between the index being near historical highs and a large number of individual stocks experiencing bear-market level drawdowns "will eventually converge in some way."