U.S. Stock Market Soars While Global Markets Lag Behind on Slower Earnings Growth
• U.S. stock market continues to strongly outpace global markets over past decade, up 48% since 2019 vs 10% for developed markets outside U.S.
• Faster U.S. earnings growth main driver - up 47 times more than global earnings since 2004
• U.S. economy fueled by strong consumer spending and jobs market despite high inflation and interest rates
• European Central Bank hinting at rate cuts in June to boost euro economy after near stall in 2023
• China's economic recovery still uneven due to weak consumer spending and income growth