Q3 U.S. Stock Market Outlook Webinar - U.S. / EMEA / CAN Edition

Presented by

Dave Sekera, CFA, Preston Caldwell, Adam Fleck, CFA

About this talk

Stock prices are high, interest rates are low, and corporate credit spreads are tight. Is there anything left that’s undervalued? With the equity markets trading near record levels, will stocks continue to march higher? Or will the Fed take away the punch bowl? Following the rotation into value stocks thus far this year, we find that the market has left valuations of stocks of companies with Wide Economic Moats behind. As the pandemic continues to abate, the outlook for the U.S. economy remains robust and we project U.S. real GDP growth of 6.0% in 2021, 4.6% in 2022, and 3.4% in 2023. This aggressive growth is enabled by economic normalization as consumer spending shifts back to services from goods. However, inflation has reared its ugly head. Join our webinar to learn why we think inflation will subside later this year and to help you understand current market dynamics and identify pockets of opportunity. You will also hear more details on our ESG Risk Rating Assessment in partnership with Sustainalytics. In this continuation of our popular quarterly Market Outlook series, we’ll cover: • Key valuation context that will help you explain the stock market outlook to your clients • Provide an update regarding our revised outlook for the U.S. economy and inflation • Review content enhancements we are implementing regarding the inclusion of Environmental, Social, and Governance (ESG) issues into our analysis Presented by: Dave Sekera, CFA, Chief U.S. Market Strategist, Preston Caldwell, Head of U.S. Economics, and Adam Fleck, CFA, Director of Equity Research, ESG

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