Market Week: August 4, 2025
The Markets (as of market close August 1, 2025)
The U.S. stock market endured a significant downturn last week, largely due to unexpectedly weak hiring
data (see below) and the imposition of new tariffs by President Trump. After reaching record highs for six
straight sessions in the prior week, the S&P 500 ended last week in the red, with last Friday marking the
worst single-day performance since May. The remaining benchmark indexes listed here also closed last
week lower. Investors moved from risk on the heels of an underwhelming jobs report for July, which led to concerns of slowing economic growth, while new tariffs on imports from several U.S. trading partners
heightened fears of accelerating inflation. Weak hiring numbers also increased expectations for a Federal
Reserve interest rate cut in September. This sent Treasury yields sharply lower, with 10-year Treasury
yields hitting their lowest rates since the end of April. Crude oil prices ended last week higher, although
reports that OPEC+ may agree to increase production could drag prices lower.
Market Week: July 28, 2025
The Markets (as of market close July 25, 2025)
The stock market last week had a mixed performance across major indexes, largely influenced by corporate earnings reports and ongoing discussions around trade tariffs. Both the S&P 500 and the NASDAQ reached new record highs last week, driven by strong performances from several big tech companies, which reported better-than-expected profits. In fact, last Friday’s gains marked the fifth straight record close for the S&P 500. Last week was a busy one for second-quarter earnings. Many companies exceeded expectations, while those that missed expectations saw sharp sell-offs. Tariffs remained a significant factor impacting market sentiment. While there’s some enthusiasm for trade deals, the impact of increased tariffs has impacted some market sectors. Speaking of market sectors, 10 of the 11 S&P sectors ended last week higher, with only consumer staples closing the week in the red. Treasury yields showed some movement, with the 10-year Treasury yield easing somewhat. Crude oil prices settled at $65.04, marking their lowest price since June 30 as concerns over a weakening economy brought fears of waning demand.
Market Week: July 21, 2025
The Markets (as of market close July 18, 2025)
Stocks began last week mostly lower on mixed bank earnings and rising inflation data. While the June Consumer Price Index was in line with expectations (see below), it is worth noting that some imported goods, such as coffee, furniture, clothing, and appliances, climbed higher, which could be due to increased tariffs. However, favorable earnings data toward the end of last week and a better-than-expected retail sales report helped push stocks higher. For most of the week, investors weighed the White House’s push for higher tariffs on the European Union against strong corporate earnings and some favorable economic data. Among the market sectors, utilities and information technology outperformed, while health care, materials, and energy lagged. Long-term bond prices changed little, keeping yields steady. Crude oil prices slipped lower. The dollar edged higher for the second week in a row. Gold prices fell for the first time in the last three weeks.
Market Week: July 14, 2025
The Markets (as of market close July 11, 2025)
Last week, the Trump administration sent letters to dozens of trading partners informing them of country-specific reciprocal tariff rates ranging from 20% to 50%. The levies were initially slated to take effect on July 9, but were pushed back until August 1, presumably to leave room for continued negotiations. The stock market seemed to shrug off tariff news for much of the week before falling back from Thursday’s record highs on Friday and ending slightly in the red. The dollar and gold prices both advanced during the week. U.S. copper prices soared to all-time highs on Tuesday after President Trump said the United States will impose a 50% tariff on imported copper, a metal that is a critical component in many different types of manufactured goods. And on Friday, Trump announced that a major statement on Russia was forthcoming, which led to a spike in oil prices caused by expectations of additional sanctions on Russian energy.
Market Week: July 7, 2025
The Markets (as of market close July 3, 2025)
Stocks advanced notably during the Fourth of July holiday-shortened week. Both the S&P 500 and the NASDAQ recorded record highs as investors were encouraged by a better-than-expected labor report (see below). Tech stocks and AI-driven companies moved higher following the White House’s decision to lift export restrictions on chip-design software to China. All 11 market sectors gained last week, led by materials, financials, industrials, and consumer discretionary. The favorable jobs report also helped drive bond yields higher, with 10-year Treasury yields climbing 6.0 basis points. Crude oil prices posted weekly gains, despite slipping at the end of the week. Prices rose during the week after Iran decided to halt cooperation with the United Nations’ nuclear watchdog, which heightened global tensions and threatened production and demand. Gold prices also closed last week higher, after a strong labor report dulled hopes for a Federal Reserve interest rate decrease.
Market Week: June 30, 2025
The Markets (as of market close June 27, 2025)
Wall Street has come a long way from an April sell-off as investor optimism over trade agreements and a cooling of tensions in the Middle East helped lift stocks to record highs last week. The S&P 500 and the NASDAQ each hit new highs. Despite inflationary data coming in slightly above expectations, price pressures remained mostly muted (see below). Several market sectors enjoyed notable gains, led by information technology and financials. Energy and real estate moved lower last week. Crude oil prices, which had been surging, had their worst week since March 2023. Gold lost value for the second straight week as global tensions eased, leading to an increase in global trade that reduced the appeal of safe-haven investments. The dollar continued to tumble, hovering near its lowest level since early 2022. With inflation ticking higher in May, coupled with a decrease in consumer spending and a larger-than-expected contraction in first-quarter gross domestic product, the Federal Reserve may be inclined to resume its interest-rate cutting cycle sooner rather than later.
Market Week: June 16, 2025
The Markets (as of market close June 13, 2025)
Unrest in the Middle East dragged stock values lower last week, while pushing gold and crude oil prices higher. For much of the week, investors focused on trade talks between the U.S. and China, which ultimately did not result in a significant breakthrough in trade relations and left tariffs at relatively elevated levels. However, favorable inflation data for May offered some encouragement for investors as stocks moved higher last Thursday. Nevertheless, escalating tensions in the Middle East resulted in a sharp drop in stocks last Friday, while crude oil prices jumped over 13% last week. Gold rose more than 3.5%, with prices nearing an April record high as investors sought safety amid rising geopolitical tensions. Among the market sectors, energy and health care outperformed, while financials, industrials, and consumer staples declined.
Market Week: June 9, 2025
The Markets (as of market close June 6, 2025)
Wall Street ended last week on a positive note, with each of the benchmark indexes listed here closing higher. The S&P 500 rose to its highest level since February, boosted by guarded optimism around U.S.-China trade talks and a better-than-expected jobs report (see below). However, unemployment claims rose to their highest level in eight months, adding some concerns about the future of the labor sector. Stocks opened last week with minimal gains amid investor profit-taking following a strong May. Throughout the remainder of the week, stocks whipsawed on trade information and economic data. In addition to renewed hopes of a resolution to the trade conflict with China, investors also saw a cooling of the vitriol between President Trump and a former ally. Information technology and communication services outperformed among the market sectors, while consumer discretionary and consumer staples closed the week in the red. Ten-year Treasury yields rose. Crude oil prices had their first weekly gain after declining in each of the previous three weeks.
Market Week: June 02, 2025
The Markets (as of market close May 30, 2025)
Stocks tumbled last week as traders contemplated the potential impact of new legislation and increased trade tensions following President Trump’s threat of new tariffs against the European Union and Apple. While stocks declined, long-term bond yields rose, with 10-year Treasuries reaching a three-month high of 4.64% last Thursday before settling at 4.51% by the end of the week. Crude oil prices recorded their first weekly loss in May, affected by expectations of another production increase by OPEC+. New tariffs also impacted the dollar index, which fell to its lowest level in two weeks. With investors moving away from risk, gold prices climbed higher.
Market Week: May 27, 2025
The Markets (as of market close May 23, 2025)
Stocks tumbled last week as traders contemplated the potential impact of new legislation and increased trade tensions following President Trump’s threat of new tariffs against the European Union and Apple. While stocks declined, long-term bond yields rose, with 10-year Treasuries reaching a three-month high of 4.64% last Thursday before settling at 4.51% by the end of the week. Crude oil prices recorded their first weekly loss in May, affected by expectations of another production increase by OPEC+. New tariffs also impacted the dollar index, which fell to its lowest level in two weeks. With investors moving away from risk, gold prices climbed higher.