Weekly Market Bullets

for the week ending 1/10/2025


  • US Equity Markets sold off last week, as strong Payroll data led to a spike in interest rates, unsettling investors that the Fed may keep rates higher than expected. The S&P 500 fell 1.9% for the week and is now down 0.9% for the year. The Nasdaq dropped 2.3% for the week and has now declined 0.8% for the year, while the Russell 2000 (small cap stocks) tumbled 3.5% for the week and is now down 1.8% for year.


  • Global Equity Markets declined last week as weak economic data out of China and Japan offset gains in European markets. Developed Markets were down 0.5% for the week and are now down 0.7% for the year. Emerging Markets dropped 1.5% for the week and are now down 1.7% for the year.


  • Strong Payroll Data led interest rates higher. Payroll gains for December came in at 256K, well above expectations of 155K and up from November's 212K. The Unemployment Rate dropped to 4.1%, also below expectations and down from 4.2% in November. As a result, the yield on the US 10-Year Treasury popped to 4.79%, its highest level since November 2023, before closing the week at 4.77% vs. 4.62% the prior week.
Of Interest to Us
  • After two consecutive years of strong gains in the equity markets, history suggests positive, though more muted, returns for 2025. Since 1950, there have been eight instances where the S&P 500 has had two consecutive years of gains over 20%. The average return the following year has been between 7-8%, with positive returns the following year in six of the eight times this has occurred. In one such instance (1995-1997), the gains exceeded 20% for a third consecutive year.

Market Data

for the week ending 1/10/2025

If you have questions about the markets or would like to talk about your investments, please contact me at bfontana@invtrust.com or via phone at 704.940.3544.
Investors Trust Company helps its clients make sound financial decisions by providing strategic advice and asset management services with a high level of personalized attention. If we may help you or your clients with their investment management needs, please contact one of our Relationship Team members at trust@invtrust.com.