Investors want returns. And they see them, at least for now, in American technology. Tech accounts for about 35% of the MSCI USA Index, versus just 8% in EAFE, the MSCI index that covers Europe, Australasia, and the Far East. Expected long-term earnings-per-share growth for US stocks is 15%. In EAFE, it is just 11%.
The US remained the market to beat in 2025. Will that last?
