BlackRock: European companies' profits have taken into account tariff risks, and the stock market rally is expected to continue.

Helen Jewell, the head of European equities at BlackRock, stated that the profit prospects of European companies have already reasonably reflected tariff risks, and as long as there are no major trade shocks, the current uptrend can still be sustained. "Profit forecasts have been revised downward, which is not a sign of market blind optimism," Jewell said in an interview. "As long as European exporters continue to exert strength, there is still room for the market to move upward." Jewell's viewpoint contrasts sharply with that of institutions such as Goldman Sachs. The latter warns that as the August 1 deadline for US tariffs approaches, in the face of ongoing trade uncertainty, the stock market appears overly optimistic.