Earnings Season Offers US Equity Investors a Chance to Refocus on the Micro

The big things you need to know:

1. First, our thoughts on earnings heading into 4Q25 reporting season – questions we think need answering and stats we’re watching.
2. Second, other updates include our thoughts on implications in house views on the Fed for our own US equity market outlook, why we think last week’s economic data releases support the strong start to the year in US equities, why we think Small Cap performance is at an important crossroads vs. Large Cap, and how recent trends in funds flows capture the complex crosscurrents in place for US equities today.