Overall, companies in the S&P 500 are projected to post an 8.8% year-over-year increase in earnings for the third quarter, according to LSEG IBES. With valuations already stretched, strong earnings will be critical to sustaining current market levels. The index’s forward 12-month price-to-earnings ratio stands at 22.8, well above the five-year average of 19.9 and the ten-year average of 18.6, according to FactSet. Earnings growth could surpass 13% for Q3, which would mark the fourth consecutive quarter of d ...