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HSBC's global multi-asset team said it was "still turbo bullish despite the Middle East conflict" The team has cut an overweight position in European equities, and extended an overweight to U.S. stocks.
HSBC has shifted its equities overweight from Europe to the U.S. ahead of Big Tech earnings.
KEY POINTS
- U.S. tech companies now account for over half of the upward earnings revisions, per HSBC.
- HSBC maintains a 'max bullish' stance on U.S. stocks despite ongoing Middle East conflicts.
- A 10% energy price rise could cut EBITDA by up to 7% in sensitive sectors, HSBC warns.
- HSBC upgraded the basic materials sector to overweight, citing lower commodity input cost exposure.
COMPANIES
Summarized by Newsio from CNBC. How we summarize →