Solid EPS Stats, Weak Corporate Vibes, Recapping Our Middle East Read Throughs

The big things you need to know:

• First, solid earnings stats are in place as US equity investors wait for the onset of 2Q25 reporting season.
• Second, the latest Business Roundtable survey highlighted weaker corporate vibes relative to March, echoing the tone in last week’s earnings call transcripts to some degree for Russell 3000 companies, where cost containment discussions jumped out to us.
• Third, we recap our views on how we’re thinking about the recent developments in the Middle East from a US equity market perspective.