Weekly Market Bullets

for the week ending 2/21/2025

• US Equity Markets hit all-time highs last week, but closed the week lower as concerns about rising pressures on consumers stoked economic growth fears. The S&P 500 dropped 1.7% for the week and is now up 2.2% for the year. The Nasdaq decreased 2.5% for the week to bring its gains for the year to 1.1%, while the Russell 2000 (small cap stocks) fell 3.7% for the week and is now down 1.6% for the year.

• Global Equity Markets were mixed last week, as investor hopes that the economies in Europe and China may have bottomed despite ongoing geopolitical and tariff tensions. Developed Markets were down 0.3% for the week and are now up 7.5% for the year. Emerging Markets rose 2.0% for the week to bring its gains for the year to 6.7%.

• Gold prices hit record highs last week amid rising global uncertainty. The combination of increased likelihood of rising tariffs in the US and uncertainty around the wars in Ukraine/Russia and tensions in the Middle East have led investors to the safe haven of gold. Gold prices touched all-time highs last week at $2,964.70 an ounce before closing at $2,949.70, up 11.7% for the year. Gold has hit record highs ten times so far this year.

• Recent Surveys suggest the US Consumer appears increasingly uneasy. The Michigan Sentiment survey, which measures the confidence of consumers on business, the economy, and their personal finances, fell in February to its lowest level since July 2024. The declines were broad-based, with less confidence in current economic conditions, in future economic conditions, and on rising inflation. Uncertainty around the potential imposition of tariffs appears to be the primary issue weighing on consumers.

Market Data

for the week ending 2/21/2025