Beyond Markets

​​The market wants to close the year on a high note, with the S&P 500 index’s total year-to-date return exceeding 30%. The consensus estimates around 13% earnings growth for both 2025 and 2026. The futures market implies a Fed funds rate of 3.65% by February next year, an over 100 basis point decline from where it is today. In such circumstances, it’s not hard to imagine the bull market in stocks could keep going, barring an inflation shock.​​

Keywords: S&P 500 index, all-time high, earnings growth, interest rate cut, Fed funds rate, deregulation, David Perdue, ambassador to China, Hang Seng index

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What is Beyond Markets?

“Beyond Markets” by Julius Baer is a series featuring conversations with experts to share recent market developments, key insights, and strategic inputs from around the globe. In each episode, we cut through the noise to offer practical advice and macro research on today’s shifting economic and market landscape.
The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.