Q3 '26 earnings call sentiment just hit a 7-year high — net positivity across $SPY companies climbed to 1.48 from 1.34 last quarter. That's the kind of baseline optimism you see when CFOs aren't hedging every sentence.
Energy led the move, jumping from 1.05 to 1.45 — biggest sector gain. Materials followed (1.01 → 1.26), then financials (1.17 → 1.36). All three are upstream or capital-cycle sensitive, so the tone shift matters: it's not just tech CEOs talking their book, it's the stuff that act...