An earnings “supercycle” in the US is poised to drive stocks to more record highs, according to Nataliia Lipikhina at JPMorgan Chase & Co., fueled by heavy spending from hyperscalers and advances in agentic AI.

Nataliia Lipikhina, head of EMEA equity strategy at JPMorgan Private Bank, says she sees the US earnings "supercycle" to drive stocks to fresh records. "We actually just recently lifted our S&P target, and we think that the earnings growth in 2026 can be 20%," Lipikhina tells Bloomberg Television. (Source: Bloomberg)