CHART OF THE DAY: The S&P 500's earnings recession has officially ended

• The S&P 500 earnings recession has officially ended following third-quarter earnings results.
• An estimated 5% jump in EPS ended a losing streak for profits that began in late 2022.
• "Third quarter earnings season results suggests that the outperformance is backed by healthy fundamentals," Raymond James said.

Our Chart of the Day is from Raymond James, which shows that the S&P 500's earnings recession has officially ended.

So far, 92% of S&P 500 companies have reported their third-quarter earnings results. Of those companies, 82% beat profit estimates by a median of 7%, while 59% beat sales estimates by a median of 3%, according to data from Fundstrat.