US equities are poised for further gains, with the S&P 500 recently reaching its 45th all-time high this year, driven by healthy profit growth. Despite expected volatility during the earnings season, a solid economic backdrop and a favorable outlook for corporate profits, particularly in AI, support a positive market sentiment. The S&P 500 earnings per share growth is projected at 5-7% for the September quarter, with a full-year forecast of 11%, as the Federal Reserve's rate-cutting cycle is expected to bolster economic activity.