Dear Friends, I hope to be back to normal on Monday with a market wrap video. Fingers crossed.
—Stocks ended down marginally as the president ramped up his tariff rhetoric again. The Dow Jones lost 1.0% to 44371, while the S&P 500 and Nasdaq, which hit new record highs on Thursday, finished the week down 0.3% and 0.1%, respectively.
Next week, earnings season kicks into full gear with Q2 reports from the Big Banks and Netflix.
Chipmaker Nvidia became the first public company to top $4 trillion in value on Wednesday after a two-year investor frenzy. The stock topped $164. At the beginning of 2023, Nvidia shares were around $14.
—U.S. Treasury Yields
6-mo. 4.26% 2-yr. 3.90% 10-yr. 4.42% 30-yr. 4.96%
The yield on the 10-year rose 7 basis points on the week, with the 30-year touching 5.00% at one point.
Gold $3371
Oil $68.61
Bitcoin $118,075…new record! [4:00 PM ET, Friday]
Regular Gas: $3.16; Diesel: $3.70 [$3.54 – $3.88 yr. ago]
Returns for the week 7/7-7/11
Dow Jones -1.0% [44371]
S&P 500 -0.3% [6259]
S&P MidCap -0.6%
Russell 2000 -0.7%
Nasdaq -0.1% [20585]
Returns for the period 1/1/25-7/11/25
Dow Jones +4.3%
S&P 500 +6.4%
S&P MidCap +1.7%
Russell 2000 +0.2%
Nasdaq +6.6%
Bulls 53.8
Bears 21.2
Hang in there.
