The S&P 500 Index, which hit a record high in Q3 2025, is poised for significant developments in Q4 as the earnings season kicks off on November 14. Major banks, including JPMorgan and Wells Fargo, will report their earnings, with analysts forecasting a 7.9% growth, down from 11.5% in Q2. The Federal Reserve's upcoming decisions on interest rate cuts, influenced by non-farm payrolls data, are expected to play a crucial role in the index's performance. Additionally, a court ruling on Donald Trump's tariffs and potential slowdowns in AI spending are other critical factors that could impact market dynamics.