Goldman Sachs
May 11, 2026
Global Weekly Kickstart
Weekly UpdateEquitiesRates Govt BondsFXEnergyInformation Technology
Global equity markets reached all-time highs last week, led by a 7.7% surge in Technology and strength in Asia-Pacific ex-Japan. Goldman Sachs identifies a looming margin inflection point in Europe that could lead to earnings misses relative to current consensus.
Key Takeaways
- 1.Global equities reached record highs last week, with particular strength in the APxJ region and the Technology sector.
- 2.Europe is at a margin inflection point, where decelerating growth and weakening pricing power suggest downside risks to earnings consensus.
- 3.US 2026 earnings sentiment has jumped sharply this reporting season, while Technology continues to lead sector performance.
Table of Contents
- The week at a glance — Global markets and indices
- Forecasts
- Risk and Sentiment indicators
- Performance - Local indices
- Sector performance across regions - Weekly
- Sector performance across regions - YTD
- Earnings & Contribution
- Earnings revisions
- Valuation
- Style performance
- Style valuation
- Sector weights, geographical exposure and concentration
- Cross-asset performance and correlation
- Flows from Global investors into equity funds
- Emerging Markets vs. Developed Markets
- Vol, skew and dividends
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Authors
Guillaume JaissonPeter OppenheimerSharon BellJohn KwonGiovanni Ferrannini
Securities
SPXSXXPBrent Crude OilHG
Themes
Margin Inflection in EuropeGlobal Equity RecordsTech Dominance and Earnings Sentiment
Regions
GlobalNorth AmericaEuropeUnited StatesJapanChina