Equities

financial markets

What's the outlook for equities?

Explore and download our forecasts for major DM and EM equities indices and projected equities returns via this interactive dashboard.

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Tariffs to limit any upside for equities

Equity markets have rebounded strongly over the past month, after their plunge in the immediate aftermath of the US tariff announcements. European equities have led the charge, while US equities have ended up in the middle of the pack. Our central scenario is that US equities will rebound a bit further by the end of the year. But we suspect the environment won’t be conducive to another big rally fuelled by enthusiasm about AI for a while yet.

Related research

Outlook: Asset allocation in a Brave New World Euro-zone equity outperformance is on borrowed time Tariffs and our downgraded forecast for the S&P 500