Weekly Market Bullets

for the week ending 5/30/2025

• US Equity Markets increased last week as President Trump pushed back his threat of additional tariffs on the EU. The S&P 500 rose 1.9% for the week and is now up 0.5% for the year. The Nasdaq was up 2.0% for the week to bring its losses for the year to down 1.0%, while the Russell 2000 (small cap stocks) increased 1.3% for the week and is now down 7.4% for the year.

• Global Equity Markets were mixed last week amid stronger than expected economic growth in Europe but tariff concerns in China. Developed Markets increased 0.8% for the week and are now up 14.5% for the year. Emerging Markets dropped 1.2% for the week to bring its gains for the year to 7.6%.

• US Inflation remains stable at levels still above the Fed's target. The Personal Consumer Expenditures (PCE) price index for April rose 2.1% from a year ago, slightly below expectations and down from 2.3% in March. The Core PCE price index, which excludes food and energy prices, rose 2.5% from a year ago, down from 2.7% in March but still above the Fed's 2.0% target.

• There has been no rebound in container traffic between the US and China. According to the Apollo Group, the number of container ships coming to the US from China has remained at around 45 per day as of late May, consistent with April levels following the initiation of tariffs. That is down from a peak of around 70 in March and an average of around 55 in 2024. Are US firms waiting for even lower tariffs before authorizing shipments, or are 30% tariffs on China still too high?

Market Data

for the week ending 5/30/2025