Starting from the beginning of this week, corporate earnings reports are beginning to be released in the US. According to analyst forecasts, the situation is interesting: companies listed in the S&P 500 may see profits in the fourth quarter increase by approximately 8% to 9% compared to the same period last year. How will the market respond to this? What do these figures mean for risk assets? Earnings below or above expectations can impact not only stocks but all risk asset classes. Especially in an uncertain macroeconomic environment, these reports may cause investors to recalibrate their risk appetite.