Global markets are navigating a sharp rotation out of recent momentum winners as the Q2 earnings season begins. Expectations for EPS growth are elevated, particularly within US AI infrastructure and European Energy sectors.
Key Takeaways
- 1.Global equities rose 2% last week, led by Europe, while momentum sold off as investors rotated from winners to laggards.
- 2.US and European markets face elevated earnings expectations ahead of the Q2 reporting season starting next week.
- 3.AI infrastructure companies are expected to account for nearly 60% of total S&P 500 EPS growth in Q2.
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 FerranniniElena Porfidia
Securities
S&P 500STOXX 600
Themes
AI InfrastructureMomentum Rotation
Regions
North AmericaEuropeAsia PacificUnited StatesChinaGermany