Azimut Investments - Market Insights

As of this writing, more than half of the companies have reported in the US and in Europe. In summary, this earnings season is coming in stronger than consensus expected, particularly in the US. Reported EPS growth is +16% YoY in the US versus +1% YoY in Europe, translating into EPS surprise...

Since the April low, investor complacency has grown amid Fed policy easing, a de-escalation in U.S.–China trade tensions, and upbeat corporate and AI-related developments, with markets largely overlooking emerging warning signs

While investors were expecting the NFP release on Friday October 3 to shed some light on the direction of travel, the release was delayed after the U.S. federal government shut down on October 1, as Congress failed to enact appropriations for the new fiscal year.

After a lengthy pause, at its latest meeting the Federal Reserve resumed its easing cycle in response to the deterioration in the labour market data, lowering the federal funds rate by 25 bps to 4.00–4.25% and indicating that another cut in October is highly probable.

In two weeks, the FOMC will hold its most important meeting of the year.

As of this writing, over 90% of developed market companies have reported Q2 results.

In the end, Trump secured victories across the board. Career politicians around the world have demonstrated their incompetence in dealing with someone from the business world.

In the end, Trump is getting everything he wanted. For the time being, without adverse effects. The “One Big Beautiful Bill Act” (hereinafter "OBBBA") was signed into law on July 4. Almost simultaneously, Trump began sending letters with the new tariff rates to countries that had not yet...