Pictet Research Hub

Pictet's latest research emphasizes a predominantly bullish outlook for global equity markets, with North American technology stocks serving as a primary driver of momentum. While the S&P 500 tests the 7,500 resistance level and the Nasdaq 100 exceeds projected wave targets, European indices show resilience despite currently stalling at key Fibonacci retracement levels like the 6,008 mark for the Euro Stoxx 50. Asian markets present a more complex landscape, characterized by the Nikkei 225 reaching all-time highs above 60,000, contrasted by the Hang Seng's ongoing consolidation phase. In fixed income and commodities, research notes that bond yields in the US and Germany are in a period of consolidation, while gold has breached support and the US dollar faces critical resistance at 100.36. Overall, the firm identifies a technically supported environment for equities, notwithstanding recent retreats from record highs in the US. The tactical direction remains cautious yet constructive, closely monitoring pivotal price levels across global asset classes.