BlackRock upgrades European stocks to Overweight, cuts U.S. equities to NeutralNo doubt about it... the GREAT US OPENING already peaked. Jobs report was rather pathetic. Over 25% of the Job growth was Gov Jobs. And the largest number of private-sector jobs was the lowest pay hospitality jobs, hotel domestics and bartenders and burger flippers. Europe after the G7 Biden Fail has actually expanded ties with Russia and China. So the old US strategy of getting the "allies" to do the dirty work has failed. This is especially true in the semiconductor sector where China has moved abruptly out of the danger zone with breakthroughs in lithography and 14nm chip design. cashmccall.comWhat Trump and Biden have done is disrupted the global semiconductor industry which was a highly intertwined division of labor. By disrupting this, the US plunged itself into chip shortages and a dangerous dependency on Taiwan. Meanwhile, the Chinese had a head start and have moved rapidly into fab. Huawei managed to build a 14nm kirin 710a chip that is just 1% less in performance than their 710 kirin fabbed by Taiwan Semiconductor. The Attempts by Trump and Biden to stall China have backfired. By year-end China will have chip self-sufficiency in 300 to 14 nm. That is 90% of their needs. The US will still be dependent on TSMC. Chips and 5G are transforming Europe and Asia while the US sits out the dance. Europe cannot afford to be the sacrificial lambs of US xenophobia policies that will destroy Europe's role in future technologies. Trump was amazingly dumb. Biden following trump into the Trade war abyss and petty Nancy Kerrigan kneecapping strategy and they lost. US control of Europe has been an abysmal failure and finally, Europe realizes it.