Citigroup strategists said that despite high interest rates and geopolitical risks, steady corporate profits in 2027 can support the continued upward trend in global stock markets. The strategy team, led by David Grohman and Beata Manti, predicts that the global stock market will rise by about 6% before the end of this year. The market is driven by profit growth rather than rising valuations. Maintaining overrated ratings in the US, Japan, and the global technology sector, the logic is that profit momentum and artificial intelligence drive growth. Maintains a neutral rating for European markets and emerging markets other than the UK. Europe and emerging markets remain vulnerable to geopolitical risks. The financial sector was downgraded to neutral, while the real estate sector was downgraded to low distribution.

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