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![SpecialSitsNews Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1242122660500381696.png) Special Situations 🌐 Research Newsletter (Jay) [@SpecialSitsNews](/creator/twitter/SpecialSitsNews) on x 130.4K followers
Created: 2025-07-21 07:43:20 UTC

The outlook for European earnings is appropriately reflecting tariff risks, according to $BLK BlackRock Inc.’s Helen Jewell, who sees the rally extending in the absence of a trade shock.

“Earnings numbers have already come down; that’s not a complacent market,” Jewell, chief investment officer of fundamental equities EMEA at the asset manager, said in an interview. “The gains have further to go as long as the European exporters pull their weight.”

Jewell’s view is in stark contrast to some market strategists, such as those at Goldman Sachs Group Inc., who warned that stocks are looking too sanguine given the lingering trade uncertainty ahead of the US tariff deadline on Aug. X.

My question is, how could Helen fully believe this, if we don't even know what the EU final tariff level will be?

![](https://pbs.twimg.com/media/GwXYtYvW8AAyw_k.png)

XXXXX engagements

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**Related Topics**
[blk](/topic/blk)
[asset management](/topic/asset-management)
[stocks](/topic/stocks)
[investment](/topic/investment)
[$blk](/topic/$blk)
[tariffs](/topic/tariffs)
[blackrock](/topic/blackrock)
[stocks financial services](/topic/stocks-financial-services)

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