Investors can't stop believing

AxiosAugust 5, 2026en

Data: FactSet; Chart: Matt Phillips/Axios Who cares about war, oil prices, interest rates or an AI bubble? Investors apparently do not — for now at least — sending stocks back to record highs. Why it matters: High stock prices are critical to keeping funds flowing to the AI buildout. A significant erosion of investors' confidence in stocks would be a big risk to the AI flywheel of financial flows, capital expenditures and industrial activity driving the U.S. economy. Catch up quick: Some analysts and investors had worried that the markets were beginning to deflate, as the S&P 500 failed to advance in June or July. Previously high-flying chip stocks hit an air pocket in early June. The slump

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