Natalia Lipichina, JP Morgan's head of equity strategy for EMEA, said a US earnings "supercycle"—fueled by heavy mega‑cap investment and advances in AI agent technology—will drive equities to fresh highs. The bank has raised its S&P 500 earnings outlook and now forecasts 20% earnings growth in 2026; the current reporting season shows S&P 500 earnings growth at a five‑year high, led by mega‑cap tech. JP Morgan said the upgrade reflects confidence that earnings growth will be more durable than in

Natalia Lipichina, JP Morgan's head of equity strategy for EMEA, said a US earnings "supercycle"—fueled by heavy mega‑cap investment and advances in AI agent technology—will drive equities to fresh highs. The bank has raised its S&P 500 earnings outlook and now forecasts 20% earnings growth in 2026; the current reporting season shows S&P 500 earnings growth at a five‑year high, led by mega‑cap tech. JP Morgan said the upgrade reflects confidence that earnings growth will be more durable than in a typical economic cycle.