U.S. markets rally as A.I. valuation concerns subside

Group 1: Market Performance - US tech stocks experienced a rally, with the NASDAQ posting its best session in six months, up 2.7% [3][4] - Alphabet shares surged, moving the company closer to a $4 trillion valuation [2] - Semiconductor stocks, particularly Nvidia and Broadcom, saw significant gains, with Nvidia leading the charge [5][4] Group 2: EasyJet Financial Performance - EasyJet reported a 9% increase in earnings for the fiscal year ending September 30, 2025, achieving a profit of £665 million [11][10] - The company also noted a 20% growth in passenger numbers last year and a 15% forecasted increase in EasyJet Holidays customers for the next year [14][13] - EasyJet Holidays achieved a profit of £250 million, surpassing its medium-term targets ahead of schedule [13][10] Group 3: EasyJet Operational Insights - EasyJet's operational performance improved, with a £106 million increase in earnings before interest and tax, reflecting strong operational measures [17] - The airline's punctuality and customer satisfaction reached a decade-high score of 80% [11] - EasyJet is optimistic about future growth, citing a 46% increase in earnings since setting targets in fiscal year 2023 [13][12] Group 4: Industry Context and Future Outlook - The UK budget announcement is anticipated to impact low-cost carriers positively, with hopes for a freeze or reduction in air passenger duty [24][22] - EasyJet's CEO expressed confidence in the airline's growth strategy, despite competitive pressures in the short-haul flight market [16][17] - The airline industry is witnessing increased M&A activity, particularly among smaller flag carriers being acquired by larger groups [31][30]