February 2025

SP500 has touched 6100 7x in the past few weeks. Two months of so far benign churn, working off frothy 2024 sentiment, and absorbing waves of policy noise. Encouraging resilience or a fragile equilibrium?

The market is calm but unable to relax.

A tireless bid from retail investors and the market’s knack for rotations have supported stocks through a rethink of the AI trade, a jumpy bond market and erratic policy signals with on-off-on tariff plans.

Investors find themselves cautiously optimistic as rate rise cools and the second Trump era gets in motion.