47. Weekly Market Recap: Key Movements & Insights
Wall Street's Tug-of-War: Inside the Bullish Conviction That Defied Geopolitical Gravity 🌍
Stocks Notch New Record and Bitcoin Surges as Tariff Threats Rattle Markets
Wall Street navigated a volatile week to push the S&P 500 to a new all-time high, as a powerful tech-led rally demonstrated investors’ appetite for risk assets. The bullish sentiment extended to the cryptocurrency market, where Bitcoin broke out to a new record of its own. The gains, however, were hard-won and bookended by fresh tariff announcements from the White House, leaving investors to balance strong momentum in key sectors against a backdrop of persistent trade uncertainty.
The week's trading was a tug-of-war between bullish conviction and geopolitical jitters. The S&P 500 began the week with a nearly 0.8% decline on Monday, following the initial tariff announcement. After a flat session on Tuesday, the market found its footing. A powerful rally on Wednesday and Thursday, fueled by the technology sector, pushed the index to an intraday record of 6,290 on Thursday before a final tariff announcement on Friday pared some of the week's gains.
NVIDIA's Milestone Moment Lifts the Market
The mid-week reversal was driven in large part by a landmark achievement for NVIDIA (NVDA), which saw its market capitalization surge past the $4 trillion mark. The chipmaker's ascent sent a wave of optimism through the technology sector, pulling the broader market up with it. The momentum proved contagious, spilling over into Thursday's session and providing the final push needed for the S&P 500 to briefly enter uncharted territory.
The rally highlighted a clear divergence in market performance. For the week, electronic technology was a top-performing sector, joined by energy minerals and non-energy minerals. On the other end of the spectrum, communications, health services, and commercial services were among the sectors that lagged.
A Spotlight on Other Assets
Beyond equities, other markets responded to the week's mixed signals with varying degrees of volatility.
Crypto: It was a memorable week for digital assets. Bitcoin surged more than 8% from the prior week's close, breaking decisively out of a trading range that had held since May. The price peaked above $118,000, marking a new all-time high and pulling the broader altcoin market higher in its wake. The move signaled a strong risk-on sentiment among crypto investors, echoing the bullishness seen in tech stocks.
Bonds: The US Treasury market experienced a choppy week. Yields pushed higher in the early sessions before dropping over 1.5% on Wednesday, only to recover most of those losses by Friday's close. The market showed a relatively muted reaction to positive jobless claims data on Thursday, with investor focus remaining squarely on the tariff situation and any signals from the Federal Reserve regarding future interest rate policy.
Commodities: Oil prices were volatile, climbing through the first half of the week before dipping on Thursday amid tariff concerns, and then pushing higher again on Friday. Overall, crude continues to crawl cautiously upwards after a substantial drop last month. Gold, meanwhile, was relatively quiet, trading within the prior week's range as it continues to consolidate after hitting its all-time high in April.
Upcoming Key Events:
Monday, July 14:
Earnings: América Móvil, S.A.B. de C.V. (AMX B), Fastenal Company (FAST)
Economic Data:
Tuesday, July 15:
Earnings: JPMorgan Chase & Co. (JPM), Wells Fargo & Company (WFC)
Economic Data: Core Inflation Rate MoM-YoY, Inflation Rate MoM-YoY
Wednesday, July 16:
Earnings: Taiwan Semiconductor Manufacturing Company Limited (2330), Johnson & Johnson (JNJ), Bank of America Corporation (BAC), ASML Holding N.V. (ASML)
Economic Data: PPI MoM
Thursday, July 17:
Earnings: Netflix, Inc. (NFLX), Novartis AG (NOVN), Abbott Laboratories (ABT)
Economic Data: Retail Sales MoM
Friday, July 18:
Earnings: American Express Company (AXP), The Charles Schwab Corporation (SCHW)
Economic Data: Housing Starts, Michigan Consumer Sentiment Prel
Here are the most pertinent earnings details.
Due to the volume of reports during the earnings season, it is not feasible to include every single one in our calendar.
⚡ 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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Trend Signal: 🟢
*When Price and Moving Averages are all green, the Market Trend will also be green
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Price>MA20: 🟢
MA10>MA20: 🟢
Market Trend: 🟢
Trend Signal: 🟢
Price>MA10: 🟢
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Sector Performance: Winners and Losers from Last Week
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Winners
🛢️ Energy (+1.63%)
Energy led the market this week with a strong 1.63% gain, driven by steady commodity prices and positive momentum in the energy sector.
🏭 Industrials (+0.48%)
Industrials posted a modest 0.48% increase, reflecting resilience in manufacturing and infrastructure-related activities.
⚡ Utilities (+0.20%)
Utilities gained 0.20%, maintaining their reputation as a stable, dividend-focused sector.
🧱 Basic Materials (+0.16%)
Basic Materials edged up by 0.16%, signaling cautious optimism in commodity demand and industrial activity.
Losers
🛍️ Consumer Cyclical (-0.03%)
Consumer Cyclical stocks dipped slightly by 0.03%, reflecting mixed consumer sentiment.
🏥 Healthcare (-0.16%)
Healthcare declined by 0.16%, showing a slight pullback despite its usual defensive appeal.
🏢 Real Estate (-0.36%)
Real Estate fell 0.36%, indicating some cooling in property market enthusiasm.
💻 Technology (-0.53%)
Technology dropped 0.53%, as investors reassessed growth prospects in the sector.
📱 Communication Services (-1.26%)
Communication Services declined 1.26%, reflecting weaker demand for digital and connectivity services.
💰 Financial (-1.53%)
Financial stocks fell 1.53%, likely impacted by concerns over interest rate trends and banking sector challenges.
🛡️ Consumer Defensive (-1.77%)
Consumer Defensive was the biggest loser this week, dropping 1.77%, as demand for essential goods and services softened.
🌟 Weekly Industry Leaders 🌟
🥈 Silver (+8.93%)
Silver led the market this week with an impressive 8.93% gain, reflecting strong investor interest in precious metals as a hedge against economic uncertainty.
🔥 Coking Coal (+8.64%)
Coking Coal posted robust gains of 8.64%, driven by sustained demand from steel production and favorable commodity market dynamics.
💎 Luxury Goods (+6.33%)
Luxury Goods climbed 6.33%, signaling strong consumer spending on high-end products and continued brand strength in the premium retail sector.
✈️ Airlines (+5.2%)
Airlines soared 5.2%, benefiting from increased travel demand and a recovery in global aviation activity.
⛏️ Other Precious Metals & Mining (+4.45%)
The mining sector gained 4.45%, highlighting the ongoing demand for precious metals and industrial minerals.
🛢️ Oil & Gas Refining & Marketing (+3.46%)
Refining and marketing companies advanced 3.46%, supported by stable energy prices and strong refining margins.
⛽ Oil & Gas Drilling (+3.39%)
Drilling services rose 3.39%, reflecting continued energy exploration and production activities.
🎰 Gambling (+3.34%)
The gambling industry gained 3.34%, driven by strong consumer spending on entertainment and leisure activities.
🔧 Oil & Gas Equipment & Services (+3.22%)
Equipment and service providers in the energy sector climbed 3.22%, benefiting from increased investment in oil and gas infrastructure.
🏢 Real Estate - Diversified (+3.04%)
Diversified real estate investments rose 3.04%, indicating improved market conditions and investor confidence in property assets.
🚀 Top Market Gainers: Clinical Breakthroughs, Strategic Mergers, and Speculative Moves
PROK ProKidney Corp (+614.06%)
💎 ProKidney Corp shares skyrocketed over 600% after the company reported statistically and clinically significant topline results for its Phase 2 REGEN-007 trial. The trial evaluated Rilparencel in patients with chronic kidney disease and diabetes, marking a major milestone in the treatment of these conditions. The results have sparked significant investor enthusiasm, positioning ProKidney as a leader in the biotech space.
INKT MiNK Therapeutics Inc (+613.14%)
📈 MiNK Therapeutics saw its stock soar after publishing a groundbreaking case in Nature’s Oncogene. The report detailed a complete and durable remission in a patient with metastatic, treatment-refractory testicular cancer following treatment with agenT-797, MiNK’s allogeneic iNKT cell therapy. This patient had previously failed on platinum-based chemotherapy, autologous stem cell transplant, and multiple immune checkpoint inhibitors. The news has solidified MiNK’s position as a pioneer in off-the-shelf iNKT cell therapies.
ABVE Above Foods Ingredients Inc (+307.37%)
💰 Above Foods announced a transformative merger with Palm Global Technologies Ltd., adding billions of dollars in gold-based assets to its balance sheet. The merger positions Above Foods as a global leader in stablecoin issuance and asset tokenization, with access to over $1.5 trillion in sovereign-owned assets through its joint venture partner, Promax United. The appointment of His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum to the board of directors further underscores the company’s ambitious global strategy.
ZEPP Zepp Health Corporation (+237.92%)
❓ Zepp Health Corporation shares surged nearly 240%, though no official news has been released. The move appears to be speculative, with some market watchers suspecting it could be another China-based pump-and-dump scheme.
SQNS Sequans Communications S.A. (+213.95%)
💎 Sequans Communications announced a bold new bitcoin treasury strategy, acquiring 370 BTC using proceeds from its recent equity and convertible debenture offering. The move signals the company’s confidence in cryptocurrency as a long-term asset, driving significant investor interest.
🔻 Biggest Decliners: Chinese Scams, Dilution Fears, and Speculative Sell-Offs
PHH Park Ha Biological Technology Co Ltd (-97.45%)
📉 Park Ha Biological Technology shares collapsed nearly 97%, in what appears to be yet another Chinese pump-and-dump scheme. This serves as a stark reminder of the risks associated with speculative investments in these volatile names.
SKBL Skyline Builders Group Holdings (-87.90%)
📉 Skyline Builders Group Holdings followed a similar trajectory, with its stock plummeting almost 88%. Like many other Chinese stocks, this appears to be another pump-and-dump operation, leaving investors holding the bag.
WAI Top KingWin Ltd (-86.78%)
📉 Top KingWin Ltd shares tumbled nearly 87%, marking the third major Chinese pump-and-dump collapse of the week. The lack of transparency and regulatory oversight continues to plague these speculative plays.
CIGL Concorde International Group Ltd (-81.92%)
⚠️ Concorde International’s stock nosedived over 80%, confirming suspicions of a pump-and-dump scheme. Investors are advised to steer clear, as the stock is expected to fall below $1.00 in the coming days.
BGL Blue Gold Limited (-80.49%)
💸 Blue Gold Limited initially surged on news of a strategic partnership with TripleBolt Technology to explore blockchain-based digital assets backed by gold futures. However, the stock quickly sold off, dropping over 80%. While the company is based in the Cayman Islands rather than China, the pattern is eerily similar to other pump-and-dump schemes.
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