Market Recap • Week 27 2025

Highlights from the week of Jun 30 - Jul 6, 2025

US equities rallied to new record highs while European and Asian markets broadly declined.

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Equities

America

• 🇺🇸 S&P 500 gained another 1.72% for its second straight week of new all-time highs. The index closed at 6,279 and is now up 6.76% for the year and almost 30% off the April 7 bottom.
• 🇺🇸 Nasdaq Composite rallied 1.62% to a new record high and is now up more than 39% from the April bottom and 6.68% for the year.
• 🇺🇸 Dow Jones Industrial outperformed the S&P and Nasdaq with a 2.3% gain but has yet to reclaim its all-time high set last year.
• 🇺🇸 Russell 2000 performed the best of all the major US indices, surging 3.52% for the week. It’s still almost 10% away from its record high though.
• 🇨🇦 TSX continues to make new all-time highs week over week, this time with a 1.29% gain to close above 27,000 for the first time ever.
• 🇲🇽 IPC gained 1.02% for the week in continued consolidation near its record highs.
• 🇧🇷 Bovespa jumped 3.21% and broke out to a new all-time high after two months of consolidation.
• 🇦🇷 Merval gained 1.84% this week but is still more than 27% off of its January peak.

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Europe

• 🇪🇺 STOXX 600 declined 0.46% this week.
• 🇬🇧 FTSE 100 eked out a 0.27% gain and sits right below its record highs.
• 🇩🇪 DAX fell 1.02% for the week.
• 🇫🇷 CAC 40 closed pretty much unchanged this week. The index is also unchanged from February 2024.
• 🇩🇰 C25 eked out a 0.35% gain for the week. The index has been stuck for four years and is currently down by 15.5% from its September peak.

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Asia

• 🇯🇵 Nikkei 225 declined 0.85% after briefly breaking out to a new 52-week high on Monday.
• 🇨🇳 Hang Seng fell 1.52% for the week.
• 🇮🇳 Nifty 50 gave up 0.69% this week.
• 🇰🇷 KOSPI inched down by 0.05% this week after its massive +17% 5-week rally.
• 🇹🇼 TSEC declined 0.14% this week.

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Currencies & Commodities

• 💰 The DXY still can’t catch a break, declining another 0.28% this week to close below 97 for the first time since February 2022.
• 🇪🇺 USD.EUR weakened by 0.52% to 0.849 this week, its lowest level since September 2021.
• 🇩🇰 USD.DKK declined 0.47% to 6.333 DKK.
• 🇬🇧 USD.GBP actually strengthened by 0.5% but remains near multi-year lows.
• 🇯🇵 USD.JPY inched lower by 0.09% this week.
• 🇨🇳 USD.CNH also declined by 0.09% for the week.
• 🥇 Gold gained 1.59% this week and closed at $3,325.
• 🥈 Silver rose 2.45% to a new all-time closing high of $36.839 per ounce.
• 🥉 Copper declined 1% after last week’s big 5% jump.
• 🏆 Bitcoin is more or less flat for the week at $108,300 as of Saturday morning (CET).
• The altcoin market has inched down by 0.4% this week with Solana (SOL) as the underperformer among the majors.

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Bond yields

• 🇺🇸 The US 2-year soared 3.74% to 3.886% this week.
• 🇺🇸 The US 10-year gained 1.74% for the week.
• 🇺🇸 The US 30-year rose 0.6% to a yield of 4.862%.
• 🇪🇺 The Euro 2-year fell 2.38% to 1.803%, its lowest close since May.
• 🇪🇺 The Euro 10-year declined 1.04% for the week.
• 🇨🇳 The China 10-year inched down by 0.18% and remains at historic lows.
• 🇨🇳 The China 30-year closed unchanged for the week at 1.858%.

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Other

• The VIX inched up by 0.37% to close the week at 17.48.