Chip stocks push tech heavy indices to fresh ATHs!

AI optimism is once again overpowering geopolitical fears. Markets continue to flip-flop between Middle East headlines and enthusiasm around artificial intelligence, but investors remain focused on strong tech earnings, booming AI infrastructure spending and resilient equity momentum. The S&P500, Nasdaq100 and Kospi are at ATH levels thanks to semiconductor stocks, amid strong earnings reaction. European equities are lagging behind tech-heavy markets like the Kospi and Taiex, as energy prices are shaping sentiment, and investors appear increasingly comfortable ignoring geopolitical risks unless tensions escalate significantly. Today, we discuss whether markets are underpricing risk, what the latest US economic data means for the Federal Reserve, and why elevated valuations could still leave equities vulnerable to sharp reversals despite the current optimism. Listen to find out more! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.