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HSBC upgraded its stance on U.S. equities to "overweight" from "neutral" Earnings momentum and easing geopolitical risks turned the narrative back towards fundamentals.
HSBC upgraded U.S. equities to 'overweight' citing strong earnings momentum and reduced geopolitical risks.
KEY POINTS
- HSBC downgraded Europe ex-UK to 'neutral' due to weak activity and vulnerability to higher energy prices.
- 84% of U.S. companies reporting Q1 earnings have beaten expectations by an average of 12%.
- S&P 500 buybacks have reached $430 billion year-to-date, up 20% from last year.
- HSBC upgraded global Basic Materials to 'overweight' and downgraded health care and industrials to 'neutral'.
COMPANIES
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