Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — Fed Boost Needed For A Sustained Positive Profits Outlook: Labor market indicators are already cooling, and its strength will be key to monetary policy in coming quarters.
  
  
• Market View — A Less Concentrated Path Forward?: We remain overall constructive on the second half of the year, with concentration risk for both earnings and Equity performance key to watch.
  
  
• Thought of the Week — The Nexus Between Big Data and Big Energy Supports America's Global Competitiveness: The country with the lowest-cost energy infrastructure is in pole position to lead the globe's Artificial Intelligence revolution.