State Street Global Advisors: Sector perspectives: navigating a more divided market

Sector perspectives: navigating a more divided market

Sector perspectives: navigating a more divided market

Geopolitical tensions, higher commodity prices and shifting expectations for growth and inflation are creating a more differentiated backdrop for sector investors.

In our latest Sector Market Perspectives, we explore how these developments are affecting sector fundamentals and where opportunities may emerge as markets adjust to a changing environment.

Key themes include:

• Why AI investment and data centre expansion continue to support growth across technology, industrials and utilities

• How rising defence spending and capital investment are creating opportunities within industrials and materials

• The implications of higher energy prices and supply chain disruptions for sector performance

• Why consumer-facing sectors could face pressure from persistent inflation and weaker household spending trends

• How sector ETFs can help investors express macroeconomic views and navigate increasing market dispersion

As sector fundamentals continue to diverge, understanding the drivers behind performance has become increasingly important for portfolio construction.

Read our latest perspectives to see where we see opportunities-and risks-across the sector landscape.

Marketing Communication. For institutional/professional investors use only.

State Street Global Advisors is now State Street Investment Management. Please click here for more information.

State Street Investment Management Worldwide Entities

The information contained in this communication is not a research recommendation or ‘investment research’ and is classified as a ‘Marketing Communication’ in accordance with the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.

The information provided does not constitute investment advice as such term is defined under the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell any investment. It does not take into account any investor's or potential investor’s particular investment objectives, strategies, tax status, risk appetite or investment horizon. If you require investment advice you should consult your tax and financial or other professional advisor.

This communication is directed at professional clients (this includes eligible counterparties as defined by the appropriate EU regulator or applicable Swiss Regulator) who are deemed both knowledgeable and experienced in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication.

This communication is provided for informational purposes only and should not be considered investment advice or an offer for a particular security or securities. The views and opinions expressed by the speaker are those of his or her own as of the date of the recording, and do not necessarily represent the views of State Street or its affiliates. Any such views are subject to change at any time based upon market or other conditions and State Street disclaims any responsibility to update such views. These views should not be relied on as investment advice, and because investment decisions are based on numerous factors, may not be relied on as an indication of trading intent on behalf of State Street. Neither State Street nor the speaker can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial advisor for additional information concerning your specific situation. This video cannot be used for commercial purposes, and should only be used in the specific countries as restrictions exist with some products and services marketed globally.

Investing involves risk including the risk of loss of principal. Past performance is not a reliable indicator of future performance.

Equity securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.

Investing in foreign domiciled securities may involve risk of capital loss from unfavourable fluctuation in currency values, withholding taxes, from differences in generally accepted accounting principles or from economic or political instability in other nations.

Concentrated investments in a particular sector or industry tend to be more volatile than the overall market and increases risk that events negatively affecting such sectors or industries could reduce returns, potentially causing the value of the Fund’s shares to decrease.

The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street Investment Management’s express written consent.

This webinar contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance, and actual results or developments may differ materially from those projected.

8965710.1.1.EMEA.INST

Exp. 31/12/2026

© 2026 State Street Corporation - All Rights Reserved.

Information Classification: Limited