US Equity Markets continued their march higher last week, once again hitting record highs as Congress was poised to pass the "One Big, Beautiful Bill" that may help corporate earnings. The S&P 500 rose 1.7% for the week and is now up 6.8% for the year. The Nasdaq was up 1.6% for the week to bring its gains for the year to 6.7%. The Russell 2000 (small cap stocks) rallied 3.5% for the week, erasing its losses the year, now up 0.9%.
Global Equity Markets rose last week as investors cheered positive US economic data that could boost global growth. Developed Markets increased 0.2% for the week and are now up 17.1% for the year. Emerging Markets rose 0.3% for the week and are now up 14.5% for the year.
Positive Data show the resilience of US Economy following prior tariff announcements. Payroll gains for June totaled 147K, well ahead of expectations and up slightly from May's upwardly revised 144K gains. The Unemployment Rate for June ticked down to 4.1% from 4.2% in May, also better than forecasts. Average Wage Growth in June came in at a healthy 3.7% from a year ago, down slightly from 3.8% in May.
Of Interest to Us
The Fourth of July is one of the biggest spending holidays of the year for US consumers. According to Capital One, the US spent over $15.5 billion in 2024 for the Fourth of July including over $2.2 billion on fireworks alone. Depending on the year, the Fourth of July typically ranks between 6th and 9th among holidays based on consumer spending.
Market Data
for the week ending 7/4/2025
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.
