Ambiguous Trump Presidency Drives Volatility in US Stock Market

The S&P 500 Index has surged 18% since Trump's re-election, driven by AI-related stocks and volatility caused by trade policy uncertainty and tariff threats. Big Tech companies account for most of the gains, while old-line industrial firms and consumer product sellers have struggled. The median stock in the index has gained only 1.2% in the year. The AI rally has propelled Nvidia to become the first $5 trillion company and pushed Apple and Alphabet past $4 trillion.