12:37 PM EST, 11/24/2025 (MT Newswires) -- S&P 500 companies are set to wrap up this earnings cycle with quarterly profits well above market estimates, Oppenheimer Asset Management said in a note emailed Monday.

The reporting season is largely over, with nearly 95% of the companies in the benchmark equity index having announced latest quarterly results. Earnings are up 13% on sales growth of 8.3%, according to Oppenheimer.

FactSet's bottom-up estimates put analysts' projected earnings growth at 8% ahead of the latest earnings season, the Oppenheimer report showed.

"S&P 500 earnings have persisted in surprising to the upside across most sectors for (third-quarter) earnings season," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.

As of last Friday, 10 of the 11 sectors had growth in earnings, led by technology with a 29% increase year over year, followed by financials. Energy was the only sector that reported an earnings drop.

All sectors posted higher sales annually, driven by technology and health, which delivered 16% and 10% growth, respectively.

Another 11 S&P 500 companies are scheduled to release their quarterly results this week, the brokerage said.

Dell Technologies ( DELL ) and Workday (WDAY) are due to announce their financials on Tuesday. Deere & Co. ( DE ) reports on Wednesday.

The record-long federal government shutdown, which ended earlier this month, has impacted the official data flow at a time when Wall Street is looking for clues around the Federal Reserve's next monetary policy action on Dec. 10.

The Bureau of Labor Statistics won't publish October reports on employment and consumer inflation, while data for November will now be released after the Fed's two-day policy meeting.

"For all the value that alternative data providers and private sources can offer, the missing data from government agencies is causing the markets to wobble and investor sentiment to sour near term," Stoltzfus said. "The slate of information available to ascertain what the Fed's rate decision in December might be lacks the level of clarity that the market is accustomed to having."

The probability that the Federal Open Market Committee will lower rates by 25 basis points next month rose to 77% on Monday from 71% on Friday, according to the CME FedWatch tool.

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