Positive market trends anticipated by Khaldoon al-Mubarak for 2025

In January 2025, during a series of interviews held at a Swiss ski resort, leading figures in finance and governance discussed the outlook for global markets. Nicolai Tangen, CEO of Norges Bank Investment Management, expressed concerns about inflation risks primarily driven by tariffs. Meanwhile, Khaldoon al-Mubarak, the CEO of Mubadala, shared an optimistic perspective, projecting continued positive momentum in core markets such as the U.S., and growth-driven sectors in Asia throughout 2025. Larry Fink, the CEO of BlackRock, voiced a cautious optimism, while also acknowledging the potential for adverse scenarios. He highlighted the robust conditions in the global capital markets, specifically the openness of the IPO market, which could signify healthy business landscapes ahead. However, he also pointed out that only a handful of technology companies dominate the market indexes, suggesting that sector-specific opportunities might provide better investment outcomes in the near future. Jamie Dimon, CEO of JPMorgan Chase, described U.S. stock markets as being in the top 10% to 15%, indicating a positive outlook. Contrarily, Brian Moynihan, CEO of Bank of America, emphasized that regulatory policy remains a critical concern for the business and financial services sectors amidst ongoing economic transitions. Meanwhile, Sergio Ermotti, CEO of UBS, predicted that proposed tariffs by then-President Trump would likely hinder disinflation and maintain higher interest rates than many expect. In this complex environment, investors are encouraged to consider diverse sectors as potential areas for allocation over the next year, rather than being overly focused on market index numbers. While optimism prevails, industry leaders uniformly agree on the need for careful navigation of regulatory landscapes and sector dynamics to optimize opportunities within the evolving market framework.