Weekly Market Bullets

for the week ending 7/18/2025

• US Equity Markets posted healthy gains last week, once again touching new highs as the first week of corporate earnings reports came in better than expected. The S&P 500 rose 0.6% for the week and is now up 7.1% for the year. The Nasdaq was up 1.5% for the week to bring its gains for the year to 8.2%, while the Russell 2000 (small cap stocks) increased 0.2% for the week and is now up 0.4% for the year.

• Global Equity Markets were mixed last week as investors continue to assess potential tariffs from the US. Developed Markets fell 0.1% for the week and are now up 16.6% for the year. Emerging Markets rose 1.7% for the week and are now up 16.2% for the year.

• Inflation rates increased in June but remain largely in check. With investors watching for potential price increases due to tariffs, inflation has come in better than feared thus far. The Consumer Price Index (CPI) for June increased 2.7% from a year ago, in line with forecasts but up from 2.4% in May. Core CPI, which excludes food and energy prices, rose 2.9% in June from a year ago, slightly better than forecasts and up from 2.8% in May.

• Nvidia now has a market value greater than several sectors of the S&P 500. Nvidia (NVDA) closed last week at a market capitalization of $4.21 trillion, the only company with a valuation over $4 trillion. At this market value, NVDA currently exceeds the market value of the entire S&P 500 sectors of Consumer Staples ($2.86 trillion), Energy ($1.59 trillion), Utilities ($1.29 trillion), Real Estate ($1.08 trillion), and Materials ($1.0 trillion).

Market Data

for the week ending 7/18/2025