The S&P 500 Index is pricing in a perfect utopian world. The market has just rebounded sharply by 49% from October's lows. Kalshi (prediction market) estimates a 60% chance of reaching 8,000 points by the end of this year. The Consumer Confidence Index has once again returned to an extremely euphoric level. But ask yourself one question: what exactly is driving this celebration? Is it a firm belief—trusting that AI will in the coming months

KALSHI6.16%
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