The S&P 500 is projected to achieve a 13% increase in cumulative profits for the third quarter of 2024, according to recent forecasts. This growth is largely attributed to significant upward revisions in earnings-per-share (EPS) estimates for key companies such as Alphabet, Visa, and Cigna. Notably, Alphabet's EPS forecast has surged by 112% over the past six months. The positive trend is supported by cooling inflation and robust economic momentum, which have propelled major stock indices to new record highs.