Market Recap • Week 29 2025

Highlights from the week of Jul 14 - 20, 2025

Altcoins surge, US, Canada, and China stocks hit new highs, and the dollar rebounds.

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Equities

America

• 🇺🇸 S&P 500 rose 0.59% this week and closed at a fresh all-time high. It’s now up more than 7% for the year.
• 🇺🇸 Nasdaq Composite significantly outperformed the S&P by gaining 1.51%, also closing at a new record high. The Nasdaq Composite is up 8.2% for the year and 41% from the April lows.
• 🇺🇸 Dow Jones Industrial inched down by 0.07% this week.
• 🇺🇸 Russell 2000 eked out a small gain of 0.23% for the week.
• 🇨🇦 TSX jumped to yet another all-time high with a 1.08% gain this week. The leading Canadian index is now up more than 10% for the year.
• 🇲🇽 IPC sat out the rally and fell 0.57% for the week.
• 🇧🇷 Bovespa dropped 2.06% this week, extending last week’s 3.59% decline and closing 5.7% off of its all-time high.
• 🇦🇷 Merval rallied 3.38% as it attempts to get back into bull market momentum.

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Europe

• 🇪🇺 STOXX 600 inched down by 0.06% this week.
• 🇬🇧 FTSE 100 rose 0.57% to its second straight weekly all-time high.
• 🇩🇪 DAX eked out a 0.14% gain and sits right below its all-time high.
• 🇫🇷 CAC 40 declined 0.08% for the week.
• 🇩🇰 C25 managed to gain 0.1% this week.

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Asia

• 🇯🇵 Nikkei 225 rose 0.63% and continues to consolidate near local highs.
• 🇨🇳 Hang Seng surged 2.84% to its highest weekly close since February 2022. The index has rallied almost 24% so far this year, despite all the tariff turmoil with the US.
• 🇮🇳 Nifty 50 fell 0.72% this week and has so far failed to take out its prior all-time high from September of last year.
• 🇰🇷 KOSPI extended its recent rally with a 0.39% gain this week.
• 🇹🇼 TSEC soared 2.78% for the week to its highest close since February, now up 35% from the April bottom and finally flipping green for the year.

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Currencies & Commodities

• 💰 The DXY continued its rebound and gained 0.61% this week to close back above 98.
• 🇪🇺 USD.EUR strengthened by 0.64% to 0.861 EUR.
• 🇩🇰 USD.DKK gained 0.59% to close above 6.4 DKK for the first time in a month.
• 🇬🇧 USD.GBP rose 0.51% to 0.745, its highest weekly close in two months.
• 🇯🇵 USD.JPY rallied another 0.94% to 148.795, its highest weekly close since March.
• 🇨🇳 USD.CNH eked out a 0.1% gain for the week.
• 🥇 Gold inched lower by 0.16% but remains near its all-time highs.
• 🥈 Silver fell 0.63% for the week after reaching a new 13-year high on Monday.
• 🥉 Copper eked out a 0.11% gain after last week’s massive 10.4% jump.
• 🏆 Bitcoin rallied to new record highs early in the week before pulling back, now sitting right above $118,000 with a 0.7% loss for the week as of Saturday morning (CET).
• The altcoin market has been the big story of the week. Both Ripple (XRP) and Ethereum (ETH) have surged more than 20% with the former hitting a new all-time high in the process. Solana (SOL) has gained a respectable 10% for the week. Because of this, Bitcoin dominance is seeing its biggest weekly drop since January of last year, down 4.5% for the week to 61.7%, a level not seen since March.

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Bond yields

• 🇺🇸 The US 2-year declined 0.62% to 3.869% after having been up earlier in the week.
• 🇺🇸 The US 10-year eked out a 0.07% gain and closed with a yield of 4.42%.
• 🇺🇸 The US 30-year gained 0.73% after briefly topping 5% intraweek.
• 🇪🇺 The Euro 2-year fell 3.27% to a yield of 1.833%.
• 🇪🇺 The Euro 10-year reversed an early gain to close the week down 0.3%.
• 🇨🇳 The China 10-year eked out a 0.24% gain for the week.
• 🇨🇳 The China 30-year inched down by 0.11% this week.

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Other

• The VIX had a brief spike above 19 on Wednesday but closed the week virtually unchanged at 16.41 for the fourth consecutive week.