High Frequency Monitor: Earnings boost

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High Frequency Monitor: Earnings boost

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High Frequency Monitor

Earnings boost

Global equities rally on earnings optimism 25 May 2026

Global equity markets rallied +1.2% last week on continuing earnings optimism, Quant Strategy

especially for the global Tech sector, and signs of progress in the Middle East conflict. Global

The Global Earnings Revision Ratio jumped from 0.91 to 0.99 as the Ratio remained high

in the US and improved in other regions. Among global sectors, Tech Hardware (+4.2%)

and Telecom (+3.6%) performed best, while Media (-2.1%) and Materials (-0.4%) fell the

most. The best performing region was Europe (+2.8%) while all other major regions

rallied close to 1.0%. Global equity markets continue to be supported by a strong global Nigel Tupper >>

Quant Strategist

earnings cycle, but inflation-induced tighter monetary policy remains a risk. Merrill Lynch (Australia)

+61 2 9226 5735

Best performing themes: Space, Quantum Computing nigel.tupper@bofa.com Amar Vashi >>

Last week, among the 12 themes we monitor, the best performers were Space (+10.1%) Quant Strategist

and Quantum Computing (+9.5%), while Gold (-4.6%) and Nuclear Energy (-1.9%) Merrill Lynch (Australia) amar.vashi@bofa.com

performed worst. Triple Momentum (earnings, price, news) remains strongest for Gold, Sumuhan Shanmugalingam >>

Rare Earths, and Robotics, and weakest for SaaS and Luxury Lifestyle. Quant Strategist

Merrill Lynch (Australia)

Positive Triple Momentum: Semis, Energy, Tech Hardware sumuhan.shanmugalingam@bofa.com

By global sector, Triple Momentum remains strongest for Semis, Energy, and Tech

Hardware. Among large and liquid stocks globally (min $20bn market cap and $20mn

ADTV), the Triple Momentum Rank is highest for Kioxia, Renesas Electronics, Samsung