The current valuation premium to US equities will level off over the next 10 years, says NZ Super Fund management

The most successful sovereign wealth fund is losing faith in U.S. stocks. Which market does he prefer? 

In the weeks ahead, the Russell 2000, the benchmark for U.S. small-cap stocks, may continue to <a href="https://www.bloomberg.com/news/articles/2025-08-25/bofa-ubs-see-small-cap-outperformance-as-powell-turns-dovish?embedded-checkout=true">outperform</a>&nbsp;large-cap peers. In remarks in Jackson Hole on Friday, August 22, Fed Chair Powell <a href="https://en.oninvest.com/article/s-amp-p-500-posted-its-best-gain-since-ma-dow-has-first-record-of-the-year-powell-inspired-the-market">signaled</a>&nbsp;that interest rates could be cut as early as September. The remarks lifted all major equity indexes, while the iShares Russell 2000 ETF <a href="https://www.bloomberg.com/news/articles/2025-08-25/bofa-ubs-see-small-cap-outperformance-as-powell-turns-dovish?embedded-checkout=true#:~:text=Investors%20responded%20accordingly%2C%20injecting%20the%20most%20cash%20into%20the%20iShares%20Russell%202000%20ETF%20since%20November.">drew</a> its largest inflows since November 2024.

BofA, UBS eye small-cap outperformance after Powell's dovish remarks

Interactive Brokers Group, Inc.

Robinhood Markets, Inc.

Donald Trump announced the removal of one of the Fed governors, which caused the price of gold to rise amid concerns about the central bank's independence. At the same time, the administration blocked the construction of a wind farm off the coast of Maryland and threatened to impose duties on countries that will not give up digital taxes against American technology companies. In the corporate segment, the key event was the inclusion of Interactive Brokers shares in the S&amp;P 500 index, which caused a jump in broker quotes. About these and other topics - in our review of key events by the morning of August 26.

Apple Inc.

NVIDIA Corporation

Intel Corporation

The Fed chief's position seemed softer to the market than traders expected. Expectations for a rate cut in September jumped to 84%

S&amp;P 500 posted its best gain since Ma, Dow has first record of the year: Powell inspired the market

J.P.Morgan believes that even in an uncomfortable stock market environment, investors can feel comfortable with it

Don't slow down: how to invest when everything in the market is expensive 

Tesla, Inc.

Salesforce, Inc.

The bank's forecast calls for a 29% rise in the S&amp;P 500

Stock market could grow by $16 trillion thanks to AI - Morgan Stanley

"Technology" index Nasdaq Composite was down 1.8% after the opening of major U.S. trading, while the broad market index S&amp;P 500 was losing about 0.9%. The VIX index, known as the "Wall Street Fear Index," rose more than 7%. Investors sold off technology stocks for the second day in a row in anticipation of the minutes of the Fed's July meeting and because of general concern about the hype surrounding artificial intelligence.

Nasdaq down 1.8%, "fear index" rises: traders sell IT stocks for the second day

For the sixth month now, U.S. President Trump has been waging a zigzagging trade war. Since “Emancipation Day” on April 2, when he announced the <a href="https://www.cnbc.com/2025/04/03/us-tariff-rates-under-trump-will-be-higher-than-the-smoot-hawley-levels-from-great-depression-era.html">largest tariffs</a> in nearly a century, several countries, including the <a href="https://www.nytimes.com/2025/05/07/business/economy/trump-trade-britain.html">UK</a>&nbsp;and <a href="https://www.reuters.com/business/trump-strikes-tariff-deal-with-japan-auto-stocks-surge-2025-07-23/">Japan</a>, along with the <a href="https://www.cnbc.com/2025/07/27/trump-european-union-eu-trade-tariffs.html">EU</a>, have already managed to get a deal done to reduce the new tariffs. On August 11, Trump temporarily <a href="https://oninvest.com/article/tramp-prodlil-na-90-dnej-dedlajn-dla-povysenia-poslin-v-otnosenii-kitaa-smi">delayed</a>&nbsp;the introduction of tariffs on Chinese goods. During this period, shares of large companies climbed to new highs, while the weakness of small-cap stocks became more apparent.

Tariffs weigh on small caps, investors ponder next moves

Howard Marks, who predicted the collapse of the dot-com bubble in 2000, believes: due to inflated valuations and investor optimism, the market situation is becoming alarming

The market goes into alert mode: what is the investor Buffett believes is warning about?

Coinbase Global, Inc.

Circle Internet Group

Investors reduce risk appetite in anticipation of Jerome Powell's speech on Friday

Bitcoin is at a two-week low. Why is Bernstein expecting a bull market until 2027?

Meta Platforms, Inc.

Microsoft Corporation

Speculative capital is channeled into companies with only perceived potential, which can lead to the formation of localized overheating in the market, analysts said

The head of OpenAI warned of an AI bubble. Does Wall Street agree with him?

KKR & Co. Inc.

The S&amp;P 500 index has been trading near its highs for almost two months now, with risks and uncertainty in the markets growing. But the top 50 American hedge funds are not running for cover. Igor Klyushnev, co-founder of Freedom Holding, analyzed their portfolios - what is worth paying attention to now and what trends we can expect when the active business season starts in September.