Up & Adam

Equities rallied on strong 2026 earnings growth forecasts despite ongoing weakness in residential real estate sentiment. The AI buildout continues to drive labor demand and credit market activity.

Key Takeaways

• 1.Equity markets are rallying on the back of strong earnings outlooks, with S&P 500 earnings growth projected at ~20% for 2026.
• 2.Residential housing sentiment remains depressed, with builder sentiment below 40 for 14 straight months.
• 3.The AI infrastructure buildout is creating specific demand for skilled labor and driving corporate credit issuance.

Table of Contents

• Builder Sentiment Remains Under Pressure; Housing Starts/Permits Report On Deck At 8:30 AM ET
• As Oil Prices Slide, Markets Stage A Textbook Risk-On Rally
• Data Center Buildout Bolsters Demand For Skilled Blue-Collar Labor
• Hyperscaler Debt Issuance Is Tapping Into The Muni Market
• Earnings Estimates Continue To March Higher—A Tailwind for Equities
• Disclosures

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