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Data: FactSet; Chart: Axios Visuals

Thanks to a cadre of better-than-expected earnings results from the companies that have reported their fourth-quarter earnings so far, the earnings growth rate for the S&P 500 has risen to 0.7%.

Why it matters: That is a far cry from the estimated earnings decline of -1.7% at the end of the quarter. If it holds, this would mark the first time the index has reported year-over-year growth in earnings since Q4 2018. 

What's happening: Positive earnings surprises have led to a net $8.5 billion increase in earnings for the index since Dec. 31, FactSet senior earnings analyst John Butters notes.

  • This has been driven largely by IT companies, which have accounted for $5.4 billion of the net $8.5 billion increase (or about 63%).
  • "The positive earnings surprises reported by Apple ($4.99 vs. $4.55), Microsoft ($1.53 vs. $1.32), and Intel ($1.52 vs. $1.25) were substantial contributors to the increase in earnings for the index during this time," Butters says.

Go deeper: S&P 500 earnings continue to improve

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Debate commission co-chair: We don't expect moderators to fact-check candidates

Presidential Debate Commission co-chair Frank Fahrenkopf Jr. said Sunday he doesn't expect Fox News anchor Chris Wallace or any of the other moderators to fact-check President Trump or former Vice President Joe Biden at the debates.

What he's saying: "There's a vast difference between being a moderator in a debate and being a reporter who is interviewing someone," Fahrenkopf said on CNN's "Reliable Sources."

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3:00 p.m. ET: 32,930,733 — Total deaths: 995,450 — Total recoveries: 22,782,236Map.
  2. U.S.: Total confirmed cases as of 3:00 p.m. ET: 7,094,145 — Total deaths: 204,607 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: 3 states set single-day coronavirus case records last week — New York daily cases top 1,000 for first time since June.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.
Updated 2 hours ago - Health

3 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

Utah, North Carolina and Wyoming set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project (CTP) and state health departments. Utah and Wyoming surpassed records set the previous week.

Why it matters: Record case highs have usually meant that more hospitalizations and other serious outcomes are on the way, CTP's latest weekly update notes.