US indices can’t keep rising regardless of unideal macro setup [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Volatility is back, and markets are reacting in unexpected ways. Oil and gas prices surged on Middle East tensions, European stocks tanked, and yields jumped — yet US equities barely flinched. Big Tech gained regardless of the war headlines.

What’s driving the US resilience? Dip buyers stepped in as oil retraced, showing that even war headlines and fading Fed cut expectations weren’t enough to shake investor confidence… for now.

But the risks remain. Rising energy prices, tighter financial conditions, and geopolitical uncertainty could hit corporate earnings and slow AI investment plans. Bitcoin rebounded despite risk appetite fading, gold remained muted, and the dollar keeps strengthening.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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