For all the talk of instability, markets seem almost determined to test the limits of investor composure. Tariffs, troop deployments, and the threat of a government shutdown have done little to dent sentiment. Instead, a quiet recalibration appears underway, with investors positioning for a cycle that looks less about panic and more about selectivity.
Kingfisher offered a sharp reminder that the market’s most shorted names can sometimes surprise. The owner of B&Q and Screwfix upgraded both profit and cash flow expectations after posting stronger-than-anticipated interim results, prompting a swift rerating of nearly fifteen percent in a single session. Hedge funds betting against the stock on fears that discretionary retailers would be hit hardest by weaker demand have been forced to reassess.
In the United States, Intel has become the focal point of a broader industrial reset. Shares in the semiconductor group extended a remarkable run, buoyed by speculation that Washington is preparing to require chipmakers to manufacture domestically at least as many chips as their customers import. This follows the government’s own purchase of a near ten percent stake in the company, alongside a multi-billion-dollar partnership with Nvidia to develop data centre and PC products.
A new federal probe will examine whether imports of robotics, industrial machinery, and medical devices pose risks to national security. The review spans everything from pacemakers to factory robots, with potential tariff measures that could reshape input costs for manufacturers and healthcare providers alike.
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