Samsung's profit recovery seen weakening in Q3
Rio Tinto looks to snap up Arcadium before lithium prices recover
Michael Madigan once controlled much of Illinois politics. Now the ex-House speaker heads to trial
Israelis, scarred and battling on multiple fronts, mark a year since Hamas' Oct. 7 attack
In one year of war, Israel strikes 40,000 Hamas targets in Gaza
An explosion outside the Karachi, Pakistan, airport kills 2 workers from China and injures others
New analysis suggests national debt could increase under Harris, but it would surge under Trump
China's Sept forex reserves rise more than expected to $3.316 trln
Vietnam striving for 7.6% to 8% economic expansion in Q4, govt says
What to stream: Jelly Roll, 'Beetlejuice Beetlejuice,' Cate Blanchett and Charli XCX remixes
Dodger Stadium fans toss balls and trash on field, interrupt Padres' 10-2 win that evens NLDS
Tossed balls from stands, apparently aimed at Profar, cause 12-minute delay at NLDS Game 2
(Reuters) - UBS raised its year-end 2024 forecast for the MSCI All Country (AC) World index to 830 from 800 on Tuesday, citing improving equity risk appetite, optimism around artificial intelligence and a potential slowing of U.S. wage growth.
The brokerage's current forecast gives a 6% 'upside' potential by the end of the year for the benchmark index, which is used to gauge the broader global equity market performance.
Expectations of monetary policy easing by major central banks, weaker global economic data and euphoria around AI has supported global equities this year.
"The market seems to be transitioning much more quickly than we had expected to reacting positively to weaker data," said UBS strategists in a note.
On the AI front, UBS added, "If GenAI pushes up productivity growth by 1% from 2028, then the equity risk premium is 4.7%."
UBS also sees factors like earnings revisions, a pause in interest rates by the U.S. Federal Reserve also boosting the global equity market.
(Reporting by Siddarth S in Bengaluru; Editing by Varun H K and Nivedita Bhattacharjee)
