UBS Global Wealth Management has revised its outlook on global equities to "attractive" from "neutral" due to several factors.

These factors include the resilient U.S. economic growth, the easing of monetary policies by major central banks, and the rise of artificial intelligence.

The MSCI's broad world equity index has seen a positive impact from the proactive stance of central banks, particularly the U.S. Federal Reserve, resulting in a 16.3% increase this year.

The effects of monetary policy easing typically take some time to materialize, but historically, the initiation of a rate-cutting cycle has been beneficial for equity markets in the following 6-12 months.

Furthermore, anticipated stimulus measures from China are expected to boost global stock performance, and there are signs that growth in other regions has stabilized.

UBS also emphasized that corporate earnings are likely to benefit from the strong U.S. economic environment, advancements in AI, a robust labor market, and a gradual decline in inflation.

The technology sector is projected to be the primary driver of earnings growth, although other sectors are also expected to contribute.

However, there are potential risks associated with the upcoming U.S. elections, particularly if former President Donald Trump is re-elected, which could lead to market concerns regarding tariff implications.