This post was originally published on this site.The call supports the view that this year’s derating reflects compressed multiples rather than any problem with earnings, which strengthens the case for buying US equities on dips into 2027. UBS’s preference for semiconductors, hyperscalers and the Nasdaq 100 over the Russell 2000 points to a continued tilt toward large-cap AI beneficiaries rather than a broad rotation. The near-term warning on positioning and technical factors suggests volatility is likely to persist into year-end. Rising oil prices are named as one of the drags on valuations, which ties the equity outlook partly to how...

This post was originally published on this site.There is no near-term supply effect. Arctic offshore projects would take many years to develop even if the ban were lifted, so this is a long-dated policy story, not a price driver. The value for traders is in the direction of travel: Ottawa is openly trying to expand energy output to offset US tariff pressure, and the 2028 expiry is now a clear decision point. Any eventual move to open the Arctic would add to the longer-term North American supply outlook, but for now the official line is that nothing has changed. —...