Global Weekly: Stocks continue to rise

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The third-quarter earnings season continues to be strong. Eurozone data are promising, while US inflation remains subdued. Equities keep rising.

Equity markets update

Equity markets rose further on a strong earnings season, particularly in the US and Japan. In the US, we stand at 85% of large caps having reported. 70% of these companies have exceeded expectations, with the strongest showings in IT, followed by health care and financials. Utilities and telecommunication brought up the rear, as half of the companies were stronger than expected. Performance in utilities, as well as in health care and industrials has lagged. Energy improved on higher oil prices, though the boost from uncertainty related to a shake-up among Saudi rulers may well be temporary. This good news puts the US markets at all-time highs. Investors are now focused on tax reform.
 
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