It’s been an extremely unstable few weeks for the inventory market. Donald Trump’s ‘liberation day’ tariffs on 2 April knocked the FTSE 100 down to 7,680 by 9 April. Since that low, it’s staged an almighty comeback.

As I write, the index has bounced again to eight,586. That’s an increase of almost 12% in simply over month. It’s a outstanding turnaround and a strong reminder of two issues the Motley Idiot all the time emphasises throughout a sell-off.

First: don’t promote. The second panic kicks in, paper losses develop into actual and the danger is lacking the bounce when it comes. That’s precisely what’s occurred to anybody who fled the market in April.

Second: dips are an amazing likelihood to buy groceries. That’s what I did, snapping up development shares JD Sports activities Vogue and Worldwide Consolidated Airways Group. They’re up 35% and 25% respectively over the previous month. I didn’t catch the very backside however I’m not complaining. I’m nonetheless comfortably forward. To this point.

Loads of power on this market

Regardless of the headlines, 2025 hasn’t been a catastrophe. The FTSE 100 is up virtually 4% yr so far, which isn’t dangerous contemplating all of the uncertainty. Sure, it’s nonetheless shy of the 8,800 mark it hit in February however this restoration has momentum.

So what occurs subsequent? As ever, no person is aware of. There’s all the time one thing to fret about – inflation, warfare, climate, Trump. The listing by no means ends. I’m making no predictions.

As an alternative, I keep on with what I do know: shares look moderately priced, with the FTSE 100 buying and selling at about 15 instances earnings. That’s not costly. Particularly when US valuations look stretched.

One large nonetheless in ready

One firm I’ve acquired my eye on is medicine maker AstraZeneca (LSE: AZN). It hasn’t joined the nice share price restoration celebration but. The share price is down 17% during the last 12 months.

The pharmaceutical sector remains to be underneath a cloud as Trump continues to threaten tariffs and pushes for cheaper medicine. That uncertainty has hit AstraZeneca. It used to command a price-to-earnings ratio of round 25. Right now, it’s under 17.

The enterprise itself is motoring. First-quarter outcomes on 29 April confirmed a ten% rise in income to $13.6bn, with development throughout all main areas. Core working revenue rose 12%, whereas core earnings per share jumped 21% to $2.49. There’s loads of innovation too, with 5 new Part III readouts and 13 international approvals because the final replace.

The search continues

The corporate remains to be concentrating on $80bn in income by 2030 and stays dedicated to funding within the US. It appears like an excellent enterprise going via a sticky patch for causes largely past its management.

AstraZeneca is unquestionably one to think about shopping for, however issues might worsen earlier than they get higher. Nevertheless, ready till every little thing’s rosy once more might imply lacking the primary leg of a restoration. Which is usually the most effective bit.

Even after this rally, the FTSE 100 is filled with corporations I’d love to purchase at this time. I’m not pretending it’s plain crusing from right here. The restoration might stall.

However I’ve discovered that the most effective instances to purchase are sometimes when confidence remains to be fragile. That’s why I’ll preserve throwing each penny I can muster at this restoration.