1、Top Market Trends for 2025January 2025Ed Moya,Senior Market AnalystBarb Tague,Financial Research LeaderSara Mallatt,Director of Research,HealthcareMichelle Brophy,Director of Research,Technology,Media and TelecomXavier Smith,Director of Research,Energy&IndustrialsWhats Inside1 Introduction3 CHAPTER

2、1 2025 Macroeconomic Themes:Trump&The Fed Ed Moya,Senior Market Analyst7 CHAPTER 2 Financial Services:Will the Rally Continue?Barb Tague,Financial Research Leader12 CHAPTER 3 An Uncertain Healthcare Landscape Sara Mallatt,Director of Research,Healthcare16 CHAPTER 4TMT:Driving Forces for 2025 Michell

3、e Brophy,Director of Research,Technology,Media and Telecom20 CHAPTER 5 A Pivotal Year for Energy&Industrials Xavier Smith,Director of Research,Energy&Industrials 23 CONCLUSION Looking ForwardIntroductionWith new horizons marking 2025especially the new U.S.presidential administrationthere is opportun

4、ity for a wave of change,as well as an underlying sense of the unknown.This sentiment is echoed across many segments of the economy,resulting in mixed reactions and projections for the year.Macroeconomic factors and policy shifts remain top of mind.With lingering pockets of inflation and potential i

5、mplications arising from the new administrations trade and taxation policies,the Federal Reserves cautionary tone sets the stage.The Feds recently pared-back outlook for rate cuts in 2025 came as a surprise to many.There is consensus that along with a wave of change,familiar leading trends will also

6、 prevail in 2025,including the transformative presence of AI and generative AI and continuous investment in the technology and integration within enterprises.At a sector level,within financial services,macroeconomic factors will undoubtedly play a role in equity performance,set the mood for deal-mak