Global earnings outlook broadens beyond technology in 2026

Earnings growth in 2026 is expected to be broad based across all 11 S&P 500 sectors, reducing the dominance of technology led performance. Project stronger contributions from financials, industrials, and consumer discretionary segments. This diversification reflects improving economic conditions and stabilising interest rates, which could support wider market participation and reduce concentration risks.

US stock futures for the Dow, S&P 500, and Nasdaq declined following a strong start to 2026, reflecting cautious positioning by investors. The pullback comes amid concerns over stretched valuations and upcoming economic data releases. Market participants are reassessing risk exposure after the recent rally, with futures movements indicating expectations of near-term volatility.