The topic of Artificial Intelligence (AI), however, remains unavoidable. Many market commentators are arguing that this is becoming a bubble. The difference between AI and the internet craze, and it is a very important point, is that AI-related companies are making incredible amounts of money and are incredibly profitable. Valuations may be stretched, but these companies can at least be valued on something else than price to clicks, as was the case with internet companies ba

For the first time this year, no major announcements came out of the White House. That said, verbal agreements were made with key trading partners, such as the EU and Japan. Still, it remains unclear how the U.S. plans to enforce some of the promises made, particularly those related to investment commitments in the U.S.

On July 4, the Retaliatory Tax Provision, which would have granted the U.S. government authority to impose a surtax of up to 20% on U.S.-source income (such as dividends, interest, royalties, capital gains) earned by foreign persons or companies, was scrapped from the final version, which was very important for foreign investors.

although tariffs on China, for example, have been reduced, they are still elevated, and we have seen no clear indication of a rebound in activity in the Port of Long Beach/Los Angeles. 30% (or whatever the final rate may be) may seem a godsend compared to 145%, but it is still incredibly high and a potential death knell for quite a few US importers.

Regarding the first point, it remains difficult to say whether the United States will ultimately enter a recession due to tariffs, which are now partially suspended. What is beyond doubt, however, is that uncertainty remains very high. The moratorium is only valid for 90 days, and the trade conflict with China is far from resolved

Markets have been significantly shaken by the announcement of new U.S. tariffs, particularly high and, to say the least, relatively arbitrary in their calculation.

Politics cannot be ignored right now, as US decisions from anything to Ukraine to tariffs have a clear impact on markets.

In a summer context - low liquidity on markets, downward movements were dizzying, with poor US economic figures, and Japan Interest rate.

Simply put: stocks are going up because companies keep on churning out pretty good earnings.

April saw market corrections across the board, with the worst happening in the US. April saw market corrections across the board.

The market melt-up that started late last year took continued in March. Markets can correct through time, and this is what we expect forward

Market’s new darling, Nvidia, posted strong results helped propel the much-hyped Artificial Intelligence theme even more.