Bank of America plans to sponsor the Great Ethiopian Run https://t.co/gbkaTpR21Q ...

美银报告称，美国或海外市场今年表现强劲，明年市场波动性将加剧，但人工智能(AI)驱动股市动力持 续，亦是"K型"经济的显著特征。对美国及中国经济持乐观态度，预计经济增长将高于市场普遍预期。 关于AI泡沫即将破裂被夸大，预计明年AI投资将继续保持稳健增长。美银环球研究主管Candace Browning表示，市场对这些担忧依然存在，但其团队仍然看好经济和AI。美银十大预测： 1、美国明年 经济增长预测将高于市场预期。美国明年经济增长2.4%，主要是《大而美的法案》带来财政支持、重 新恢复的《减税与就业法案》激励措施、更友好的贸易政策、持续强劲商业投资，以及美联储减息政策 的滞后效应。 2、人工智能热潮持续，泡沫尚未出现。AI投资周期将持续，美国股市的科技板块依然处 于稳固基础。围绕数据中心、半导体産能和自动化技术的资本支出将保持稳健，不仅能提高生産力，还 将支撑企业的盈利水平。 3、新兴市场受惠更有利宏观环境。弱美元、更低的利率及较低的油价，为新 兴市场在明年继续保持良好表现提供坚实条件。 4、中国增长继续向前。将中国经济增长预测上调至高 于市场平均，预期明年经济增长4.7%，2027年增长4.5%。随着近期贸 ...

扫码查看原文 【美国银行预计标普500指数明年温和上涨，提出潜在"双重打击"】12月4日，美国银行预计标普500指 数明年将温和上涨，目标价为7,100点。不过，该行也提出潜在的"双重打击"。该行美国股票与量化策 略主管Savita Subramanian指出，因消费者压力增大、人工智能发展速度放缓，未来一年需更谨慎。她 解释称，投资者今年花大量时间确定应持有哪些超大规模企业。该行更青睐人工智能"应用者"，但投资 收益显现可能尚需时日。此外，"我们还担心，人工智能'抢饭碗'与2026年消费保持韧性之间的矛盾。" 本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 和闭猎报 12.04 12:12:15 脚 美国银行:预计标普500明年涨至 7100点，提示双重风险 【美国银行预计标普500指数明年温和上涨,提出潜 在"双重打击"】12月4日,美国银行预计标普500 指数明年将温和上涨,目标价为7,100点。不过,该 行也提出潜在的"双重打击"。该行美国股票与量 化策略主管Savita Subramanian指出,因消费者压 力增大、人工智能发展速度放缓,未来一年需更谨 慎。她解释称,投资者今年花大量 ...

美国银行预计标普500指数明年将温和上涨，目标价为7,100点，但同时提出了潜在的"双重打击"。该行 美国股票与量化策略主管Savita Subramanian指出，由于消费者压力越来越大，以及人工智能(AI)的发展 速度放缓，未来一年应更加谨慎。她解释称，投资者今年花了很多时间试图弄清楚应该持有哪些超大规 模企业。该行更青睐人工智能"应用者"，但即便如此，投资这些企业带来的收益可能还需要一段时间才 能显现。"我们还担心，人工智能'抢饭碗'与2026年消费保持韧性之间的矛盾。" 本文源自：金融界AI电报 ...

Group 1 - The core view of the article is that the global economy is expected to advance more robustly than investors anticipate by 2026, with stronger growth in the US and China, driven by AI investments and a rotation in market leadership [1][21] - Bank of America predicts that the US GDP growth will exceed market expectations, forecasting an annualized growth of 2.4% for 2026, supported by fiscal measures from the Inflation Reduction Act, restored incentives from the Tax Cuts and Jobs Act, favorable trade policies, strong business investment, and the lagging effects of Federal Reserve rate cuts [3][23] - The macroeconomic fundamentals are not as weak as many investors believe, according to Bank of America [4][24] Group 2 - The AI investment cycle is expected to continue constructively, with capital expenditures related to data centers, chip manufacturing, and automation technologies significantly boosting GDP and remaining key growth drivers in 2026 [5][25] - Emerging markets are likely to benefit from a favorable macro environment, with a combination of a weaker dollar, declining US interest rates, and soft oil prices alleviating financing pressures and leading to increased capital inflows [6][26] - Bank of America expresses optimism about China's growth prospects, citing positive signals from recent trade negotiations and the gradual effectiveness of stimulus measures [8][28] Group 3 - The S&P 500 is projected to see a 14% increase in earnings per share (EPS) in 2026, but stock price growth is expected to be limited to 4% to 5%, with a target level set at 7100 points [9][29] - The decline in US Treasury yields may be more pronounced than expected, with predictions for the 10-year Treasury yield to be between 4% and 4.25% by the end of 2026, influenced by anticipated rate cuts from the Federal Reserve [11][31] - US housing prices are expected to remain stable, with potential upward risks as mortgage rates decline alongside Federal Reserve rate cuts [13][34] Group 4 - Market volatility is anticipated to increase as investors gain clarity on how AI will reshape economic fundamentals, potentially leading to significant fluctuations across asset classes [15][35] - Private credit returns are expected to cool down, with total returns projected to drop from approximately 9% in 2025 to about 5.4% in 2026, prompting investors to consider high-yield bonds or other income-generating assets [17][37] - Copper prices are expected to continue rising in 2026, supported by ongoing supply constraints and improved global demand [19][39]

Core Viewpoint - Bank of America predicts limited upside for the U.S. stock market in 2026 after three consecutive years of double-digit returns, with the S&P 500 expected to close around 7100 points by the end of next year, reflecting a 4% increase from recent closing prices [1] Group 1: Market Predictions - The S&P 500 index has risen approximately 16% year-to-date in 2025, following gains of over 23% in the previous two years [1] - Deutsche Bank forecasts the S&P 500 to reach 8000 points next year, while Morgan Stanley predicts 7800 points, and JPMorgan and Goldman Sachs project 7500 and 7600 points respectively, indicating a potential for the index to achieve a fourth consecutive year of 10% or more returns [4] - A more optimistic scenario suggests that if corporate earnings significantly exceed market expectations, the S&P 500 could surge to 8500 points, a 24% increase from recent levels [4] Group 2: Market Conditions and Risks - Current market liquidity remains abundant, but future trends may lean towards contraction rather than expansion, with reduced stock buybacks and increased capital expenditures [4] - Concerns exist regarding a potential "growth gap" in the AI sector, as significant investments in AI by large tech companies have yet to translate into profits [1] - Subramanian acknowledges the existence of bubble risks but believes a market crash is unlikely, citing lower stock allocation by investors compared to 2000 and a more tempered enthusiasm for speculative, unprofitable stocks [5]

Bank of America, UBS and Goldman are among global finance firms canceling festive celebrations in Hong Kong this month as a mark of respect for those killed in the city’s deadliest blaze in eight decades https://t.co/LNewloGXbj ...

Let's ask Chris Heisy, Maryland Bank of America private bank CIO. He's here. Got your 2026 outlook finished up, ready to go.So, what what's your plan of attack that you're talking to investors about. >> Well, right now the momentum, as you already stated, is this is an elf rally right now on a on the way to a Santa Claus type of rally. Uh so, we're just beginning this right now.We had a lot of >> So, they're working on it. Yeah. They got to finish it up, >> right.They're in the workshop right now and then u ...

Core Viewpoint - Bank of America Global Research anticipates a stronger global economy entering 2026, driven by robust growth in the U.S. and China, ongoing AI investments, and a shift in market leadership [1][2] Economic Growth - U.S. GDP growth is projected at 2.4% for 2026, exceeding consensus, supported by fiscal policies and business investments [3][4] - China's GDP growth is upgraded to 4.7% for 2026, with positive trade developments and stimulus measures contributing to this outlook [8] AI Investment - The AI investment cycle is expected to continue its upward trajectory, with significant capital expenditures in data centers, chips, and automation driving GDP growth [5][6] - Concerns about an AI bubble are deemed overstated by Bank of America [2][5] Emerging Markets - Emerging markets are likely to benefit from a weaker U.S. dollar and lower U.S. interest rates, easing financing pressures and enhancing capital flows [7] Corporate Earnings - S&P 500 earnings per share (EPS) are expected to rise by 14% in 2026, but price gains are projected to be limited to 4%-5% [9] Treasury Yields - Treasury yields may fall more than anticipated, with projections for the 10-year yield to be between 4% and 4.25% due to expected Fed rate cuts [10] Housing Market - National home prices are expected to remain flat in 2026, with potential upside risks due to lower mortgage rates [11] Market Volatility - Increased volatility is anticipated in 2026 as the impact of AI on economic fundamentals becomes clearer [12] Private Credit - Returns on private credit are expected to moderate to about 5.4% in 2026, down from approximately 9% in 2025 [13] Commodity Outlook - Copper prices are projected to remain strong in 2026, supported by tight supply and improved global demand [14]

It’s not the year 2000, and there is not an impending tech bubble, but that doesn’t mean investors shouldn’t be bracing for turbulence, Bank of America Global Research says. Savita Subramanian, BofA head of U.S. equity and quantitative strategy, has been arguing that compared with the dotcom era, today’s AI boom has supported earnings growth and smaller IPOs, and “speculation in unprofitable stocks is less extreme.” However, she warned, aggressive capital expenditures from hyperscalers are increasingly rel ...