EPHE Overview

Market Overview: The stock market experienced a downturn last week, with the S&P 500, Dow Jones, and Nasdaq Composite all declining due to overvaluation concerns in the AI sector, despite NVIDIA's strong earnings report.

NVIDIA's Performance: NVIDIA reported a significant revenue increase of 62% year-over-year, driven by high demand for its AI data center chips, leading to an earnings per share of $1.30, surpassing expectations.

Eli Lilly's Milestone: Eli Lilly became the first healthcare company to reach a $1 trillion market cap, fueled by strong sales growth from its GLP-1/GIP drugs, Mounjaro and Zepbound, which contributed to a 36% stock surge this year.

Top-Performing ETFs: Several ETFs, including the iShares MSCI Philippines ETF and Virtus LifeSci Biotech Clinical Trials ETF, showed strong performance last week, reflecting investor interest in healthcare and biotech sectors amidst market volatility.

Global Economic Outlook: The World Bank's report indicates a stagnant global economy with a growth forecast of 2.7% for 2025-’26, while emerging markets are struggling to close the gap with advanced economies, although some like Argentina, Indonesia, and India show promising growth prospects.

Country-Specific Growth Highlights: Argentina is projected to grow by 5% due to economic reforms; Indonesia at 5.1% driven by domestic consumption; the Philippines at 6.1% thanks to its services sector; Vietnam at 6.6% bolstered by manufacturing; and India leading at 6.7%, despite facing inflation challenges.