This US bull market has not been accompanied by the usual deluge of equity issuance. Until now
Market concentration means the majority of equities have room to rise
Jump in share price of Cerebras underscores strong demand for shares in companies linked to AI boom
New subsidiary pivots to energy storage batteries for AI after disastrous electric vehicle writedown
Plus, the ‘buy Europe’ trade
The clout of Big Tech groups is obscuring the precarious state of others
Soaring S&P propelled by Big Tech equities prompts warnings about ‘fragility’ of rally
Industry posts 5% returns in April as stocks including Intel, Alphabet and AMD soar
Total economic and financial insulation is an impossibility
But it relies on a host of rosy assumptions going in investors’ favour
Not only is the Facebook boss spinning a lot of plates, but his worldview is not like that of a typical chief executive
Indexing methodology will provide a comfortable cushion for pre-IPO shareholders
Investors bet blockbuster AI spending will overshadow fallout from Middle East conflict
Meta stock drops on capex increase while Alphabet’s cloud business grows faster than rivals Amazon and Microsoft
Rally for TSMC, Samsung and SK Hynix powers EM stock index’s rebound from Iran war losses
Plus, dollar dreams and reality
Plus, the global won
Production bottlenecks and uncertainty over US munitions funding weigh on stock prices for weapons makers
Neither extreme optimism nor extreme pessimism makes much sense, and neither is easy nor safe to express
Company taps rising demand for electricity from data centres to power AI boom
Intel surges above dotcom-era high in latest milestone for tech-powered rebound
The fact that higher growth expectations have not led to higher valuations suggests that investors are more wary of what the future holds
US company’s equities had soared more than 400% in echo of Wall Street’s 2021 ‘meme stock’ craze
Plus, the robotics trade
Stock in UK-based Compass Pathways jumps to highest level in two years following president’s executive order
