Market Recap • Week 42 2025

Highlights from the week of October 13 - 19, 2025

Stocks stage comeback in volatile week while precious metals print potential blow-off top and crypto continues to slide.

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Equities

America

• 🇺🇸 S&P 500 gained 1.7% and recovered most of last week’s drop. It was a volatile week though, with multiple intraday reversals and rebounds.
• 🇺🇸 Nasdaq Composite staged an even bigger comeback with a 2.14% gain this week.
• 🇺🇸 Dow Jones Industrial rose 1.56% and closed back above 46,000 after last week’s big drop.
• 🇺🇸 Russell 2000 closed 3.5% off of its intraweek high but still ended with a 2.4% gain for the week.
• 🇨🇦 TSX rose 0.86% for the week but had been up as much as 3.2% on Wednesday.
• 🇲🇽 IPC rallied 1.94% for the week after last week’s 2.28% decline.
• 🇧🇷 Bovespa jumped 1.93% this week and is now up 19.22% for the year.
• 🇦🇷 Merval surged 3.11% on Friday alone to close the week with a 3.36% gain.

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Europe

• 🇪🇺 STOXX 600 eked out a 0.37% gain after a volatile trading week.
• 🇬🇧 FTSE 100 fell 0.77% for its second consecutive week of declines.
• 🇩🇪 DAX dropped 1.69% and remains within a 5-month sideways range.
• 🇪🇸 IBEX 35 rose 0.76% this week and closed at a new all-time high.
• 🇫🇷 CAC 40 vaulted 3.24% to its highest weekly close since February.
• 🇮🇹 IT40 inched 0.27% lower for the week after a 0.72% drop on Friday.
• 🇩🇰 C25 dropped 1.12% on Friday to finish the week with a 0.12% decline.

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Asia

• 🇯🇵 Nikkei 225 gave up 1.18% on the back of last week’s massive 5.07% surge to a new all-time high.
• 🇨🇳 Hang Seng extended last week’s 3.13% decline with a 3.97% fall this week. However, the index remains in a strong uptrend and is only back to early-September levels.
• 🇮🇳 Nifty 50 jumped 1.68% to its highest weekly close since the record high in September of last year.
• 🇰🇷 KOSPI continued its massive surge with a 3.83% rally this week, closing at yet another all-time high and extending its year-to-date gain to 56.24%.
• 🇹🇼 TSEC closed unchanged at its all-time high after a volatile trading week.

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Currencies & Commodities

• 💰 The DXY declined 0.32% for the week but remains in the upper bound of its recent trading range.
• 🇪🇺 USD.EUR weakened by 0.22% this week.
• 🇩🇰 USD.DKK fell 0.29% to 6.405 DKK.
• 🇬🇧 USD.GBP dropped 0.51% to 0.745 GBP.
• 🇯🇵 USD.JPY declined 0.34% for the week but remains above 150.
• 🇨🇳 USD.CNH fell back toward its 52-week lows with a 0.29% decline this week.
• 🥇 Gold soared 5.8% for its best week since April, closing at a new all-time high of $4,250 per ounce. However, Friday’s price action does show signs of exhaustion. The price had surged 2.87% on Thursday and added another 1.2% in early trade Friday. After topping out at $4,380, the price reversed and ended the day almost 3% lower and down 1.75% for the day.
• 🥈 Silver followed gold’s price action. It reached a new all-time high Friday before heading lower, closing with a 4.24% decline for the day. It still ended the week 3.46% higher at a new record high of almost $52 though.
• 🥉 Copper actually managed to close in the green on Friday and gained 3.29% for the week.
• 🏆 Bitcoin has had another rough week. The price is down more than 7% as of Saturday morning and currently trades below $107,000. It dipped as low as $103,500 on Friday, its lowest level since June. The Friday dip also broke a key support level around $108,000, making the setup look a little precarious right now.
• The altcoin market has performed in line with Bitcoin this week, with both Ethereum (ETH) and Solana (SOL) actually faring slightly better. Binance Coin (BNB), the recent outperformer, has taken hit and is down 15% for the week.

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Bond yields

• 🇺🇸 The US 2-year yield fell 1.9% this week in a seeming flight to safety amid geopolitical uncertainty. The yield closed at a 3-year low of 3.464% despite a 1.23% bounce on Friday.
• 🇺🇸 The US 10-year yield fell below 4% for the first time since April’s tariff scare but closed the week right above it.
• 🇺🇸 The US 30-year yield declined 0.75% to 4.606%, also a 6-month low.
• 🇪🇺 The Euro 2-year yield rallied 1.8% on Friday to recover most of its intraweek decline, closing the week just 0.57% lower at 1.921%.
• 🇪🇺 The Euro 10-year yield fell 2.01% to 2.584%, its lowest level since early July.
• 🇨🇳 The China 10-year yield plummeted 5.27% amid rising trade tensions between China and the US.
• 🇨🇳 The China 30-year yield declined 2.4% for the week to 2.235%.

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Other

• The VIX surged to kick off the week and hit 29 on Friday, its highest since Trump’s tariff announcement sent it to 60 back in April. However, it staged a massive reversal after some calming China comments from Trump, closing the day 28% off the peak and ending the week with a 4.06% decline at 20.78.