“Similarly, the fact that some form of wealth tax wasn't introduced is good news, even if the broader tax landscape has become less favourable across the past two Budgets. A targeted wealth tax would likely have a negative impact on private investments—such as the availability of private equity and VC funding for high-growth startups—making it counterproductive for productivity and economic growth.”“For the tech sector, leaving R&D tax credits alone was a good outcome. SMEs need certainty and stability if t ...

Market Sentiment and Trends - Current market adjustments are seen as a natural response to previously extreme sentiment, with no significant disruption to long-term trends [3][4] - Improvement in market breadth is noted, particularly in healthcare and financial sectors, indicating a positive shift [4][6] Sector Performance - High-flying stocks in the Russell 3000, particularly in quantum and uranium sectors, are approaching oversold conditions, which may signal a potential rebound [2] - Healthcare and energy sectors are showing better performance globally compared to the US, suggesting a synchronization with international trends [6][7] Energy Sector Insights - The energy sector is experiencing a mixed performance, with refiners and certain marketing and equipment names showing relative strength, while overall sentiment remains lukewarm [11][12] - Stability in crude oil prices is crucial for the energy sector's performance; a significant drop could pose risks, but current conditions appear manageable [13]