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S&P 500 gains driven by few large AI firms amid slowing market momentum and strong earnings outlook.

Market News
28 Sep 2026
Seeking Alpha
View Source
Neutral
S&P 500 gains driven by few large AI firms amid slowing market momentum and strong earnings outlook.

Recent gains in the S&P 500 are largely concentrated in a small group of large companies involved in AI, while overall market momentum is slowing. Despite this, earnings momentum remains robust, with projected S&P 500 earnings per share growth of 31.9% in 2026 and 15.2% in 2027. Risks to watch include the heavy reliance on AI-related firms, inflation driven by energy prices, fragile capital expenditures, and potential weakness in the housing market. However, there is no clear sign of an imminent recession at this time.

The Ben Franklin Market Analysis on the S&P 500 highlights projected earnings per share growth of 31.9% in 2026 and 15.2% in 2027. For readers following the Technology sector on Pluang, here is the market snapshot as of Sep 29, 2026 03:41 WIB: out of 150 priced US tech stocks, 42 rose and 107 fell. Notable movers include VNET at USD 5.99 with a 1-day change of -9.86%, Roblox (RBLX) at USD 41.86 down 9.86%, and Credo Technology (CRDO) at USD 193.23 down 8.41%.

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