As markets adjust to higher valuations and shifting economic signals, one thing is clear - capital expenditures are becoming a more meaningful part of the market narrative. With policy tailwinds like The One Big Beautiful Bill fuelling what some are calling a “cap-ex comeback,” investors are watching closely to see where the next opportunities will emerge - from tech and financials to energy and consumer discretionary. While many are focused on what the Fed might do next, Fidelity’s Denise Chisholm, Director of Quantitative Market Strategy, is looking beyond the headlines - and helping us understand what’s driving capital spending, how inflation is playing out, and which sectors are best positioned in today’s environment.

Recorded on July 24, 2025.

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