Stock Analysts' Futurism Is At Odds With Speculators' Doubt

US equity analysts maintain high long-term earnings expectations based on AI 'futurism,' while speculators are increasingly building net short positions in equity futures.

Key Takeaways

• 1.Equity analysts remain extremely optimistic about long-term earnings, particularly driven by AI-related growth expectations.
• 2.Near-term earnings upgrades are beginning to decline, marking a departure from typical analyst behavior where uncertainty usually scales across all horizons.
• 3.Speculators are heavily positioned on the short side across almost all major equity futures indices.

Table of Contents

• Near-Term S&P Net Earnings Upgrades Are Falling
• Speculators Are Getting Shorter in Equities

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