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In observance of the Christmas Day federal holiday, the New York Stock Exchange and Capital Group’s U.S. offices will close early on Tuesday, December 24 and will be closed on Wednesday, December 25. On December 24, the New York Stock Exchange (NYSE) will close at 1 p.m. (ET) and our service centers will close at 2 p.m. (ET)

2025 Investment Outlook

Our latest Outlook report offers actionable insights into global markets

2025 OUTLOOK

Economic outlook: Global growth dependent on a resilient U.S.

The world economy remains a mix of leaders and laggards. As inflation eases and central banks cut interest rates, the United States and India continue to drive global economic activity while Europe and China seek to kickstart growth. Here's what to watch for in the months and years to come.

Healthy U.S. economy remains a cornerstone of global growth

Sources: Capital Group. Country positions are forward-looking estimates by Capital Group economists as of December 2024 and include a mix of quantitative and qualitative characteristics (in USD). Long-term tailwinds and headwinds are based on structural factors such as debt, demographics and innovation. Near-term tailwinds and headwinds are based on cyclical factors such as labor, housing, spending, investment and financial stability. Circles represent individual economies. Circle sizes approximate the relative value of each economy and are used for illustrative purposes only.

2025 Outlook webinar

Welcome to the Benjamin Button economy

U.S. public debt: Where is the breaking point?

Where to consider investing as interest rates fall

EQUITY OPPORTUNITIES

Stock market outlook: AI leads a broadening market

The grip Big Tech has had on market returns shows signs of loosening, due in part to the vast build-out required to deliver on AI's promise. Market participation broadened beyond tech in 2024 as dividend payers, value stocks and non-U.S. companies generated strong gains. Find out why.

"Capital expenditure sprees are a feature, not a bug, of technological change."

- Jared Franz, U.S. Economist

Capital expenditure sprees are a feature, not a bug, of technological change," says U.S. economist Jared Franz

The Long View: 4 megatrends to watch

4 AI bottlenecks could bolster old-economy companies

3 reasons utilities could be the next growth sector

Confessions of a value investor

FIXED INCOME OPPORTUNITIES

Bond outlook: Income opportunities widen

The era of TINA, or "there is no alternative" to stocks, may be over. Income opportunities from bonds could be the best in decades, and investors now have more options. Get our fixed income team's latest thinking.

Bond yields have surpassed the S&P 500 Index earnings yield

Sources: Bloomberg Index Services Ltd., FactSet, Standard & Poor's. Earnings yield is equal to the forward expected earnings-per-share divided by the share price. Yield to worst is the lowest yield that can be realized by either calling or putting on one of the available call/put dates or holding a bond to maturity. As of November 30, 2024.

How bonds could shine as interest rates decline

Did you miss the rally in stocks and bonds?

Municipal bonds remain attractive despite fading stimulus

Do today’s bond yields give reason for optimism?

Get the 2025 Outlook report

Long-term perspective on markets and economies

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Past results are not predictive of results in future periods.

 

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries.

 

The market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

 

The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market.

 

The S&P 500 Index is a market capitalization-weighted index based on the results of approximately 500 widely held common stocks.

 

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