After a rocky start to the week, global markets are finding their footing as US small caps extend a historic winning streak, AI enthusiasm lifts tech stocks, and investors weigh shifting geopolitical and policy signals from Washington to Tokyo. With headlines driving sharp swings in sentiment, Aadil Ebrahim, Group Head of Equities at Klay, discusses what is really powering this rebound, how to think about winners and losers in the AI trade, and how investors can stay positioned in a market that can change by the hour.