46. Weekly Market Recap: Key Movements & Insights
S&P 500 Notches 7th Record High of the Year on "Goldilocks" Jobs Data 📈💼
S&P 500 Hits New Record on Strong Jobs Data as Tariff Threats Loom
Wall Street capped a holiday-shortened week with another round of records, as investors cheered a "Goldilocks" jobs report that signaled economic resilience without sparking fears of an aggressive Federal Reserve. The S&P 500 and Nasdaq both climbed to new all-time highs, continuing a powerful rally that has pushed the market into uncharted territory. The optimism, however, was tempered by new trade policy developments out of Washington, leaving investors to weigh a strong domestic picture against renewed global uncertainty.
For the week, the S&P 500 climbed 1.7%, closing at 6279.35 on Thursday. The Nasdaq posted a 1.6% weekly gain, while the Dow Jones Industrial Average led the major indices with a 2.3% advance. The market's ability to absorb mixed signals and push higher underscores a bullish sentiment, though all eyes are now turning to a looming July 9th tariff deadline that could introduce fresh volatility.
A Goldilocks Jobs Report Fuels Record Run
The week's performance hinged on Thursday's crucial June employment report, which cleared the path for the market's record-setting session. The economy added 147,000 jobs, comfortably beating expectations of around 110,000. The unemployment rate also surprised to the upside, dipping to 4.1%. Investors interpreted the data as an ideal scenario: strong enough to quell fears of a sharp economic downturn, but not so hot as to force the Federal Reserve to reconsider its patient stance on interest rates.
The strong report came just a day after the ADP private payrolls figure unnerved some market participants by showing an unexpected decline. However, bulls held their nerve, and the official government data confirmed their confidence. Following the jobs report, the market-implied odds of a rate cut in July fell to nearly zero, with investors now pricing in a roughly 67% probability of a cut at the September meeting. This gives the Fed an out to remain cautious and data-dependent, particularly as it assesses the impact of new tariffs.
Washington in Focus: A New Bill and Renewed Threats
It was a busy week for policy news. President Trump signed his sweeping tax-cut and spending package, the "One Big Beautiful Bill," into law on Friday after it narrowly passed the House on Thursday. The bill, which includes$4.5 trillion in tax cuts, is being touted by the White House as a catalyst for an "economic boom," though its passage has drawn criticism over its projected$3.3 trillion addition to the national deficit over the next decade.
On the trade front, the administration finalized a deal with Vietnam that imposes a 20% tariff on its exports to the U.S. While one deal was secured, President Trump reignited broader uncertainty by stating his administration would begin sending letters to roughly a dozen other trading partners, specifying new tariff rates that could range from 10% to as high as 70%. With the July 9th deadline to avert widespread tariffs fast approaching, these actions promise to keep trade at the forefront of investor concerns.
Alternatives and Sector Spotlight
Amid the equity rally, alternative assets also showed bullish strength. Gold held firm, closing the week at $3,342 an ounce, within striking distance of its $3,500 all-time high. Bitcoin also saw a significant move higher, hovering near $110,000 as it eyes its record. In contrast, oil prices declined, with WTI crude futures trading near $67 per barrel.
The rally showed signs of broadening out. Housing-related stocks like Builders FirstSource (BLDR) and Toll Brothers (TOL) surged off their recent lows as investors began pricing in the prospect of lower mortgage rates. A rotation into value also lifted bank stocks, with regional players like WesBanco (WSBC) seeing a welcome influx of buying. While tech giants like Microsoft (MSFT) and Broadcom (AVGO) continued to lead with new highs, the participation of cyclical sectors suggests a healthier, more durable market advance.
Upcoming Key Events:
Monday, July 7:
Earnings: Qatar National Bank (Q.P.S.C.) (QNBK)
Economic Data: None
Tuesday, July 8:
Earnings: AB Industrivärden (publ) (INDU A)
Economic Data: API Crude Oil Stock Change
Wednesday, July 9:
Earnings: Tata Consultancy Services Limited (TCS), Conagra Brands, Inc. (CAG)
Economic Data: FOMC Minutes
Thursday, July 10:
Earnings: Delta Air Lines, Inc. (DAL), Levi Strauss & Co. (LEVI)
Economic Data: Initial Jobless Claims
Friday, July 11:
Earnings: Avenue Supermarts Limited (DMART), Ryohin Keikaku Co., Ltd. (7453)
Economic Data: Monthly Budget Statement
⚡ AI-optimized, human-verified: Our expert team carefully selected Premium market intelligence from Fiscal.ai data. Explore now →
Index Insights: How Major Benchmarks Performed Last Week
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*When Price and Moving Averages are all green, the Market Trend will also be green
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Sector Performance: Winners and Losers from Last Week
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Winners
🧱 Basic Materials (+3.12%)
Basic Materials dominated the market this week with an impressive 3.12% gain, signaling strong investor confidence in commodity demand and industrial activity.
🏭 Industrials (+2.82%)
Industrials posted solid gains of 2.82%, reflecting optimism about manufacturing growth and infrastructure development.
💻 Technology (+2.68%)
Technology sector surged 2.68%, driven by renewed investor interest and positive sentiment around tech innovation and growth prospects.
💰 Financial (+2.64%)
Financial stocks climbed 2.64%, likely benefiting from favorable interest rate expectations and strong banking fundamentals.
🛍️ Consumer Cyclical (+2.45%)
Consumer Cyclical stocks rose 2.45%, indicating increased consumer confidence and spending on discretionary items.
🛡️ Consumer Defensive (+2.05%)
Consumer Defensive sector gained 2.05%, showing steady demand for essential goods and services.
🏢 Real Estate (+1.67%)
Real Estate advanced 1.67%, suggesting improved market conditions and investor appetite for property investments.
📱 Communication Services (+1.43%)
Communication Services posted a 1.43% gain, reflecting stable demand for connectivity and digital services.
🛢️ Energy (+1.24%)
The energy sector rose 1.24%, supported by steady commodity prices and positive energy market dynamics.
🏥 Healthcare (+0.89%)
Healthcare recorded a modest 0.89% increase, maintaining its defensive appeal with steady growth.
⚡ Utilities (+0.67%)
Utilities showed the smallest gain at 0.67%, typical for this traditionally stable, dividend-focused sector.
🌟 Weekly Industry Leaders 🌟
☀️ Solar (+16.01%)
Solar led all industries this week with an outstanding 16.01% surge. This exceptional performance reflects growing investor enthusiasm for renewable energy and the accelerating global transition to clean power sources.
🔥 Coking Coal (+15.16%)
Coking Coal posted impressive gains of 15.16%, driven by strong demand from steel production and favorable commodity market conditions. This performance highlights the sector's critical role in industrial manufacturing.
👟 Footwear & Accessories (+15.1%)
Footwear & Accessories climbed 15.1%, indicating robust consumer spending on discretionary items and strong brand performance in the retail sector.
🏬 Department Stores (+11.21%)
Department Stores surged 11.21%, suggesting a revival in traditional retail and improved consumer confidence in brick-and-mortar shopping experiences.
🏠 Furnishings, Fixtures & Appliances (+9.61%)
Home-related products gained 9.61%, reflecting continued strength in the housing market and consumer investment in home improvement and furnishing.
🎰 Resorts & Casinos (+9.52%)
Entertainment and gaming stocks rose 9.52%, indicating strong leisure spending and recovery in the hospitality and entertainment sectors.
🚗 Auto & Truck Dealerships (+9.01%)
Automotive retail advanced 9.01%, suggesting healthy vehicle sales and consumer demand for transportation solutions.
🚐 Recreational Vehicles (+8.12%)
RV manufacturers and dealers gained 8.12%, reflecting continued interest in outdoor recreation and travel lifestyle trends.
⛽ Oil & Gas Drilling (+6.95%)
Drilling services climbed 6.95%, supported by sustained energy exploration activities and favorable oil market conditions.
🚛 Trucking (+6.71%)
Rounding out the top ten, Trucking companies gained 6.71%, benefiting from strong logistics demand and the essential role of freight transportation in the economy.
🚀 Top Market Gainers: Crypto Plays, Private Placements, and Speculative Rallies
BMNR BitMine Immersion Technologies Inc (+2700%)
💎 BitMine Immersion Technologies saw its shares explode after a major strategic shift. The company announced that Fundstrat's renowned analyst, Tom Lee, will be joining as Chairman. Furthermore, BitMine revealed a massive $250 million private placement to stack ether for its corporate treasury. The raise attracted heavyweight crypto players, including Pantera Capital and Galaxy Digital, signaling strong institutional confidence in the company's new direction.
SONN Sonnet BioTherapeutics Holdings Inc (+301.79%)
📈 Sonnet BioTherapeutics experienced a massive surge of over 300%, though the rally appears to be driven by speculative momentum rather than fundamental news. There were no new press releases or filings from the company to justify such a dramatic price increase, leaving investors to wonder what's fueling the fire.
LIXT Lixte Biotechnology Holdings Inc (+234.45%)
💰 Lixte Biotechnology Holdings announced a $5.0 million private placement priced at the market. The infusion of capital, likely intended to fund further research and development, was met with significant investor enthusiasm, sending the stock soaring.
GITS Global Interactive Technologies Inc (+177.53%)
❓ In another case of a rally without a clear catalyst, Global Interactive Technologies Inc. shares jumped dramatically. With no actual news to justify the significant price appreciation, the move appears to be driven by market speculation or undisclosed factors.
CIGL Concorde International Group Ltd (+142.00%)
⚠️ Concorde International's sharp rise comes with a serious warning. This company is a total fraud, and we are seeing a pump and dump in the making. Investors should pay close attention, as a rug pull is expected in the coming days or weeks that will likely send the stock price under $1.00-2.00
🔻 Biggest Decliners: Chinese Stocks Tumble, Offerings Dilute, and Trial Data Disappoints
YAAS Youxin Technology Ltd (-88.78%)
📉 Youxin Technology shares plummeted in what appears to be a usual Chinese pump and dump scheme. There's nothing new under the sun here, as we see at least one of these a week. The dramatic collapse serves as another cautionary tale for investors dabbling in these highly volatile names.
DOGZ Dogness International Corp (-64.65%)
🐶 Another Chinese company, Dogness International, saw its stock fall over 60% in a week on no news. While the company does generate some revenue, in our opinion, this is another company to stay away from due to the unexplained volatility and risk.
OGEN Oragenics Incorporated (-61.98%)
💸 Oragenics shares took a nosedive after the company announced it had completed an offering of approximately $16.5 million. The dilution resulting from the capital raise spooked existing shareholders, leading to a significant sell-off.
SONM Sonim Technologies Inc (-52.74%)
📱 Sonim Technologies announced the pricing of a $5.55 million public offering, causing its stock to be cut in half. The prospect of share dilution sent investors heading for the exits, putting heavy downward pressure on the stock price.
INMB INmune Bio Inc (-52.35%)
🧠 INmune Bio's stock cratered after the company reported mixed results from its Phase 2 MINDFuL trial of XPro in early Alzheimer’s disease patients. The clinical-stage immunology company announced that its selective soluble TNF inhibitor failed to meet the primary endpoint. While the company highlighted positive effects in a predefined patient subgroup, the overall failure to meet the main goal led to a massive loss of investor confidence.
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