Market Highlights

Stocks saw their best week since June, with a rally in big tech driving the Nasdaq 100 to all-time highs. Also buoying sentiment were hopes the US and Russia will reach a deal to halt the war in Ukraine. Gold whipsawed. The S&P 500 approached 6,400, closing on the brink of a record. Apple Inc. saw its best week since 2020 amid optimism that plans to spend an additional $100 billion on domestic manufacturing may help the company avoid tariffs. Fannie Mae and Freddie Mac soared on reports the US is preparing to sell shares in an offerring that could start as early as this year Stocks and equity-index futures rose while oil declined on speculation a meeting between US and Russian leaders will increase the chances of ending the war in Ukraine and boost crude supply.

Wall Street halted a rally that drove stocks to the brink of a record amid concerns about an overheated market. Treasuries lost steam as a weak sale of 30-year debt signaled waning appetite after a bond surge. Following an almost 30% advance from its April lows, the S&P 500 closed little changed. A gauge of chipmakers jumped, but Intel Corp. slipped 3% as President Donald Trump called on its chief to resign, citing conflicts of interest. Eli Lilly & Co. tumbled 14% after disappointing data on its new weight-loss pill. Apple Inc. extended a two-day gain to about 8.5%. Gold futures surged while European stocks and US futures treaded water at the end of a week in which markets were buffeted by tariffs, geopolitical developments and corporate earnings.

Stock buyers waded back into the market, with a rally in most big techs driving gains. Short-dated Treasury yields fell on bets the Federal Reserve will soon be able to cut rates. The dollar slid. The impetus to buy the dip has rarely been this strong, with the S&P 500 up almost 1% after a brief slide this week. The gauge has climbed an average 0.3% a day after a down session this year — on course for the second-best annual showing. The Nasdaq 100 rose 1.3%. Apple Inc. jumped 5.1%, with Donald Trump set to announce the firmwill commit to a fresh $100 billion US investment as it seeks to avoid punishing tariffs on iPhones. US and European equity-index futures climbed along with Asian shares after President Donald Trump’s threat of 100% tariffs on chip exporters came with exemptions for companies like Apple Inc. that invest in the US.

A renewed wave of dip buying lifted stocks, with traders sifting through solid earnings amid bets the Federal Reserve will soon cut rates. Bonds saw small moves ahead of a heavy slate of US debt sales. The rebound in risk appetite drove the S&P 500 up 1.5%, its biggest rally since May. Almost every major group in the US equity benchmark advanced, and about 85% of its companies closed higher. Tech megacaps, which bore the brunt of the recent selling, led gains on Monday. Nvidia Corp. and Meta Platforms Inc. climbed at least 3.5%. The Russell 2000 index of small firmsadded 2.1%. Asian stocks advanced as a wave of dip buying combined with growing bets on potential interest-rate cuts.

Wall Street traders drove stocks toward their worst session since May as weak jobs and manufacturing data bolstered concerns about the economy, a day after President Donald Trump unveiled sweeping tariffs. Bond yields sank on bets the Federal Reserve will cut rates soon. The S&P 500 fell 1.5%, with Amazon.com Inc. leading losses in megacaps on an underwhelming profit outlook. Short-term yields headed toward their biggest plunge since August 2024, with those on two-year notes sinking 22 basis points to 3.74%. Money markets fully priced in two rate cuts in 2025, with an 80% chance of a reduction in September. The dollar sank.

Stocks wiped out gains after data showed weakening US services amid sticky price pressures, raising concern about the Federal Reserve’s policy challenges. Short-dated Treasuries underperformed. Oil sank as Russia was said to mull an air-truce with Ukraine. Following a rally that put S&P 500 on the brink of all-time highs, the equity benchmark lost steam. A closely watched gauge of chipmakers slid more than 1%. A soft $58 billion sale of three-year notes kicked off a trio of US auctions this week. The yield on 10-year Treasuries was little changed at 4.20%, while those on two-year notes rose four basis points to 3.72%.

Disappointment the Federal Reserve steered clear of signaling imminent rate cuts unnerved bond traders, sending 10-year yields to the biggest runup in two weeks. Smaller declines in stocks were quickly reversed in late hours as Microsoft Corp. and Meta Platforms Inc. reported solid earnings. An initially calm investor reaction was broken when Fed Chair Jerome Powell said no decision has been made about easing policy in September. The US labor market “looks solid,” he said, while inflation remains above target. Stocks looked set to rise in the US and Europe as upbeat earnings from megacap technology companies bolstered optimism over resilient corporate profits. The dollar gave up some gains made after the Federal Reserve held benchmark interest rates.

Wall Street traders sent stocks lower in the run-up to the Federal Reserve decision, with concerns about high valuations overshadowing hopes for an extension of a tariff truce between the world’s two largest economies. Bonds climbed alongside the dollar. The S&P 500 snapped a six-day winning streak. A rally in Treasuries gained steam after a solid $44 billion sale. Longer-dated bonds led gains, with 30-year yields down 10 basis points ahead of the US announcement on the size of future debt auctions. Oil jumped as President Donald Trump reiterated the US may impose additional levies on Russia unless it reached a truce with Ukraine. Asian equities edged higher as the extension of the US-China tariff truce offered some relief to investors by averting any immediate escalation.

Wall Street traders left stocks at all-time highs while the dollar climbed the most since May, with a tariff deal between President Donald Trump and the European Union bolstering hopes for an extension of a China trade truce. Treasuries edged lower. The start of a week that will set the tone for the rest of the year in markets saw a dollar gauge up nearly 1%. The euro slid the most in over two months. The S&P 500 briefly topped 6,400 to close little changed. Treasuries barely budged amid mixed results from US debt sales. Oil rose as Trump said he’d shorten his timeline for Russia to reach a truce with Ukraine.

Wall Street ended the week on a positive note, with stocks hitting fresh all-time highs amid solid earnings and hopes for US trade deals. After an uneventful meeting between Donald Trump and Jerome Powell, the Treasury market barely budged. The dollar climbed. In the run-up to the busiest week for corporate results, the S&P 500 rose for a fifth straight day, approaching 6,400. While the rally has stoked concerns about inflated prices amid a rush to risky corners and a revival of the meme-stock mania, it’s been hard to bet against the bullish trend. A closely watched gauge of equity volatility - the VIX - closed below 15. European stocks and US equity futures climbed after the European Union reached a trade deal with President Donald Trump, further easing fears of a damaging trade war.