Even after Friday’s stock dip, Wall Street’s risk-on momentum train is barreling into September at full steam — and few investors are showing signs of hesitation.

Markets barely flinched this week — despite fresh political pressure on the Federal Reserve and tepid Nvidia Corp. revenue guidance — until a tech-led pullback Friday, amid thin trading. Yet the late-week wobble only offered a flicker of doubt in an otherwise resilient summer, with the S&P 500 notching a fourth straight monthly gain.

Risk appetite continues to spill into nearly every corner of markets, from corporate bonds and cryptocurrencies to cyclical currencies. The rationale feels deceptively simple: the Fed looks poised to cut interest rates, the US consumer has so far proved the doubters wrong, and the artificial intell

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