Moves to overweight from neutral
Blackrocks strategist Richard Turnill is upgrading the US equities to overweight from neutral on very strong earning momentum.
- The number of US companies getting upward earnings revisions outpaces those getting downward adjustments by a ratio of more than 2 to 1. That is the highest on record going back to 1988
- Enticed by earning growth that should result from the tax cuts
- They are neutral on European stocks due to earnings momentum lagging other regions and EUR strength.
US stock markets are closed in observance of President's Day.
