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World Markets Are Ready for Comeback as ’America First’ Seen Fading

  • Global equities look poised to catch up with America
  • Valuation gap is bolstering appeal of emerging-market stocks
Images Of Tokyo Stock Exchange And Stock Boards As Japan Stocks Jump On BOJ Stimulus

Photographer: Junko Kimura/Blomberg

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Don’t sleep on the rest of the world, even as the U.S. keeps setting stock-market records.

That’s the message coming from a host of Wall Street shops highlighting the potential for the America-first thrust in financial markets to reverse. While major U.S. benchmarks rallied to fresh highs Thursday, gains in global equities have been even steeper this week, headlined by a 3.4 percent advance in Japan’s Nikkei 225 Index after a 3.5 percent jump last week.