T. Rowe Price

Join the experts at T. Rowe Price as they provide a sober analysis of the state of U.S. and international equities and discuss their active approach.

Join the experts at T. Rowe Price as they unpack the state of U.S. and international equities in 2025.

There is significantly more to the story of emerging tech than ChatGPT. Investors curious about e-commerce, A.I., and cloud technology have an opportunity for growth.

ChatGPT may have sparked a revolution, but the real story of A.I., e-commerce, and cloud technology is much bigger. Discover where the next big opportunities are and how to gain exposure in your portfolio.

Check out this recent insight from T. Rowe Price on the importance of credit quality research in fixed income.

During an upcoming LiveCast, T. Rowe Price and VettaFi will outline key considerations for the current market environment and highlight actionable portfolio strategies financial advisors can use to help their clients navigate the conditions ahead.

In the next webinar, T. Rowe Price, and VettaFi will outline key capital market considerations for the current market environment and highlight portfolio strategies to help financial advisors plan positions for the conditions ahead.

The healthy employment picture has supported consumer spending, but it has also prompted the Fed to signal that more interest rate increases are coming this year.

Investors can take advantage of the diversification and defensive attributes of value. Higher exposure to financials, utilities, and cyclicals offers potential to mitigate the worst effects of inflation, while also offering greater levels of defense in times of rising rates and more volatile markets.

The cost of goods may be peaking, but the rising cost of services clouds the inflation outlook. In our view, the Fed’s fight with inflation is far from over and will likely continue to be a headwind for the economy and equity markets. Therefore, our outlook remains cautious, and our Asset Allocation Committee is underweight stocks relative to bonds.

The rapid innovation and disruption occurring across industries, coupled with a market that is digesting dislocations stemming from the coronavirus pandemic and a flood of central bank liquidity, mean that differentiating between volatility and actual business risk is more critical than ever for growth investors with a longer time horizon.

The global recovery appears on track, but policymakers may be challenged to restrain inflation without stifling growth. U.S. equity valuations are vulnerable to rising interest rates. Slowing U.S. earnings growth could increase the attractiveness of ex-U.S. equity markets. The risk of central bank missteps could produce volatile bond markets.

The delta variant seems likely to have only delayed rather than derailed the global recovery—perhaps making growth over the coming quarters modestly more robust than it might otherwise have been. How today’s elevated bond and equity valuations will respond to the normalization of monetary policy is an open question, however.

Investors have renewed interest in tax-efficient investment models in search of better after-tax returns. Municipal bonds can be impactful in a tax-efficient portfolio, but equity tax-efficiency can be harder to find. Investors could consider tax-advantaged investment vehicles, dedicated tax-efficient strategies, and active mutual funds with tax-efficient alpha.

The value rally has recently fizzled, and growth stocks have regained ground, narrowing the performance gap considerably. However, despite strong fundamentals, growth stock valuations are extreme relative to value stocks. Our Asset Allocation Committee continues to favor value stocks as potential catalysts could be supportive.