Katie Martin

They're following fundamentals in corporate earnings.

So more profits, so line go up.

So this is like...

You know, it's very unusual for markets to trade on fundamentals.

Like normally they trade on like, you know, hope and expectations and hype and vibes and all this sort of thing.

Yes.

That's actually like not what's happening in the States at the moment.

So this is quite, it really is quite extraordinary.

So look, AI is a big part of it.

Let's talk about like, you know, there's tech companies that are making money hand over fist.

Fine.

I think we kind of expect that's going to be a thing, right?

Yeah.

So in fairness, you did call this one.

Banks have been doing very well as well.

On that point about the zigzags in markets, I was talking to some fund managers last night and they were saying the whole zigzag thing is absolutely doing their head in.

So you've got a portfolio of stocks and one of them will just dump 15% in a day

for like no reason, like on some like random headline out of Iran.

And they're left thinking, what's going on?

Has something changed?