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How have our views played out in 2024?Video

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Video ADA Text: How have our views played out in 2024?

Transcript Browser Title: How have our views played out in 2024?

Description: Ahead of our Mid-Year Outlook, we discuss what we’ve gotten right and wrong so far this year. Plus, our Top Market Takeaways video discusses the resurgence of quality U.S. mid-cap stocks.

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Video Id: 6354445797112

Audio Description Video Id: 6354447865112

Length (seconds): 106

Transcript: <h2>Side note:</h2> <p>Background music plays.</p> <h2>On screen:</h2> <p>This video opens on a woman in a red blouse, speaking from an office with a bookshelf.</p> <h2>Side note:</h2> <p>A bold disclaimer appears in a text box:</p> <h2>On screen:</h2> <p><strong>INVESTMENT AND INSURANCE PRODUCTS:</strong></p> <ul> <li><p><strong>NOT A DEPOSIT</strong></p> </li> <li><p><strong>NOT FDIC INSURED</strong></p> </li> <li><p><strong>NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</strong></p> </li> <li><p><strong>NO BANK GUARANTEE</strong></p> </li> <li><p><strong>MAY LOSE VALUE</strong></p> </li> </ul> <h2>Sitara Sundar:</h2> <p>Here are your Top Market Takeaways.</p> <h2>On screen:</h2> <p>A circle with a title expands:</p> <h2>On screen:</h2> <p>Top <strong>MARKET TAKEAWAYS</strong></p> <h2>On screen:</h2> <p>A text box appears over the speaker:</p> <h2>On screen:</h2> <p><strong>SITARA SUNDAR</strong></p> <p>Equity Strategist</p> <p>J.P. Morgan Wealth Management</p> <p>June 7, 2024</p> <h2>Sitara Sundar:</h2> <p>As spring turns to summer, we believe the stock market rally will broaden beyond mega-cap tech, with the US economic and earnings growth remaining resilient. As the rally broadens, we think the sun will shine on quality US mid-cap equities thanks to durable earnings growth and attractive valuations.</p> <h2>On screen:</h2> <p>A question appears over gray: <strong>Why are US mid-cap equities on the rise?</strong></p> <h2>Sitara Sundar:</h2> <p>We believe many mid-cap companies are at the leading edge of innovation.</p> <h2>On screen:</h2> <p>A bar graph appears, titled: 'Over the long run, mid-cap companies have outgrown large-cap.' The subtitle continues: 'Earnings-per-share (EPS) compound annual growth rate (CAGR).' On the graph, the vertical axis represents percentages zero through twelve, while the horizontal axis has three points: '5Y EPS Growth CAGR, 10Y EPS Growth CAGR, and 20Y EPS Growth CAGR.' Each of the three points has two bars: a blue bar representing 'US mid-cap,' and an orange bar representing 'US large-cap.' The 5Y US mid-cap bar rises to about 9%, while the large-cap bar stops at around 6%. The 10Y US mid-cap bar rises to about 10%, while the large-cap bar stops at around 7%. The 20Y US mid-cap bar rises to about 11%, while the large-cap bar stops at around 8%. Small text in the lower left hand corner reads:</p> <h2>Side note:</h2> <p>Small print text reads:</p> <h2>On screen:</h2> <p>Source: J.P. Morgan Private Bank, FactSet. January 2024.</p> <h2>Sitara Sundar:</h2> <p>Did you know that over the past 10 years, mid-cap companies have grown their earnings by 10% per year, outpacing large-cap? But a rising tide does not lift all boats. We prefer quality mid-cap companies that focus on profitability and growing competitive advantages.</p> <h2>On screen:</h2> <p>More questions appear over gray: <strong>Why quality? Why now?</strong></p> <h2>Sitara Sundar:</h2> <p>Mid-cap companies typically carry more risk than well-established blue-chip companies. We think focusing on quality mid-cap companies can mitigate some of this risk. Some of these companies operate like a big fish in a small pond, mirroring the quality of large-cap companies but with the outsized earnings growth potential of mid-cap companies.</p> <h2>On screen:</h2> <p>Her quote appears highlighted in blue: Quality mid-cap companies are trading at a near-record valuation discount vs. large-cap</p> <h2>Sitara Sundar:</h2> <p>Quality mid-cap companies are trading at a near-record valuation discount versus large-cap. Despite similar fundamentals, we think that gap could narrow, creating a compelling entry point.</p> <h2>On screen:</h2> <p>A bulleted list appears below a title with a magnifying glass:</p> <h2>On screen:</h2> <p><strong>KEY TAKEAWAYS</strong></p> <ul> <li>We think now may be a good time to consider adding exposure to US mid-caps</li> <li>We believe there is upside potential in quality US mid-caps as this cohort gives investors exposure to durable, robust earnings growth at attractive valuations</li> </ul> <h2>Sitara Sundar:</h2> <p>For more information, please visit chase.com/theknow</p> <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <h2>On screen:</h2> <p>To learn more, visit chase.com/theknow</p> <h2>Side note:</h2> <p>Legal disclaimers.</p> <h2>On screen:</h2> <p>All market and economic data are sourced from Bloomberg Finance L.P. and FactSet unless otherwise stated.</p> <p>The views, opinions, estimates and strategies expressed herein constitutes the speaker's judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions --including whether the services, products, asset classes (e.g. equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with any investment or financial service, product or strategy prior to making an investment decision. For additional guidance on how this information should be applied to your situation, you should consult your advisor. Investing in securities involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.</p> <h2>Side note:</h2> <p>A disclaimer in bold reads:</p> <h2>On screen:</h2> <p>(In bold) <strong>Outlooks and past performance is not a guarantee of future results.</strong></p> <h2>Side note:</h2> <p>Another disclaimer in regular font reads:</p> <h2>On screen:</h2> <p>Small- and- mid-capitalization companies typically carry more risk that well-established &quot;blue-chip&quot; companies since smaller companies can carry a higher degree of market volatility than most large-cap and/or blue-chip companies.</p> <h2>Side note:</h2> <p>Another disclaimer in bold reads:</p> <h2>On screen:</h2> <p>(In bold) <strong>Asset allocation/diversification does not guarantee a profit or protect against loss.</strong></p> <h2>Side note:</h2> <p>The final disclaimer in regular font reads:</p> <h2>On screen:</h2> <p>J.P. Morgan Wealth Management is a business of JPMorgan Chase &amp; Co., which offers investment products and services through <strong>J.P. Morgan Securities LLC</strong> (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase &amp; Co. Products not available in all states.</p> <p>Copyright {{copyrightCurrentYear}} JPMorgan Chase &amp; Co.</p>

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