[HSBC Strategist: Profits are expected to drive the spread of rising US stocks] On October 14th, HSBC strategists believe that profits from previously unfavored sectors exceeded expectations and are expected to drive the spread of rising US stocks. Strategists pointed out that current market expectations for profit growth in the third quarter are still concentrated in a few sectors. A team of strategists led by Nicole Inui wrote in a research report that the market consensus is that earnings per share growth is close to 30%, but this growth mainly comes from the semiconductor and energy sectors, which have high performance visibility. Among the 11 sectors of the S&P 500 Index, only 5 are expected to achieve growth of at least 10%; after excluding the "Magnificent Seven", technology and energy sectors, the earnings of the remaining index constituents are only expected to grow by 5%, compared with 14% in the previous quarter. "If the earnings of these currently neglected sectors exceed expectations, the main sectors for earnings growth may further expand," the strategists wrote.