MARKETS & ECONOMY — LEAD STORY
Equity bulls find footing as Powell's patient hold stance reduces macro headwinds across global markets.
Goldman Sachs raised its year-end S&P 500 target citing improving earnings breadth and reduced headwinds. Tech and industrials led gains while bond yields retreated from cycle highs. European and Asian markets followed US lead into positive territory.
ANALYSIS
European defense commitments now exceed $400bn annually with no ceiling in sight.
US allies are accelerating procurement of missile defense, naval assets, and autonomous systems across five continents. Defense contractors in Europe and North America are reporting multi-year order backlogs. The shift represents a structural reallocation of sovereign capital not seen since the Cold War era.
