Why 2020 could be a big year for international stocks over US equities

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U.S. stocks have been pulling ahead of international markets since 2010, but foreign stocks could start to catch up this year, strategists say.

Improving growth in places such as China could spill into European stocks and emerging markets.A pedestrian looks at an electric quotation board displaying the numbers on the Nikkei 225 Index on the Tokyo Stock Exchange and various markets around the world, in Tokyo.Eased trade tensions between the United States and China and signs of a strengthening global economy could be good news for international equities and European stocks in particular, according to market strategists.

Since 2010, the S&P 500 rose more than 188%, an annualized rate of about 11.2%. The MSCI World ex US index saw much more modest gains, climbing 50.5% overall or roughly 4.2% per year. Last year was strong for stocks around the world, but the U.S. still took the lead. The international index rose 18.1%, but theThe global stock market got a negative shock in the first trading days of 2020. Equities slipped following the U.S. airstrike that killed a top Iranian military leader. However, oil prices haveMuch of the optimism about international markets comes from global economic data, where both hard and soft indicators suggest that the global slowdown may have bottomed out.

The Eurozone is one area where investors should increase their exposure, according to Mark Luschini, chief investment strategist at Janney Montgomery Scott, in part due to positive signs about the Chinese economy.

 

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