Asks about cautious optimism on global markets given stocks hitting record highs despite high valuations and uncertainty.
Frank
Beata
Stocks hitting all-time highs globally, encouraged by record earnings with broadening expected across all sectors and regions.
Beata
High valuations mean stock prices could be more vulnerable to news flow; stocks priced for perfection/over-delivery, any cracks could cause volatility.
Notes KOSPI and Nikkei hitting highs, asks Seema about preference for Asia due to cheaper tech valuations.
Frank
Asks about gold at all-time highs (flight to safety) while S&P and multiple sectors hit records, and whether tech is still a safety trade.
Frank
Beata
Current market is not exuberant but worried, weighing risks; positives should outweigh negatives but could be volatile.
Beata
Tech/AI remains important theme but not the only one; AI is broadening beyond hyperscalers to adopters.