Stocks and commodities continue to trade sideways as the US finally began imposing tariffs on several countries, including China, Mexico, and Canada. Here’s a detailed breakdown of how different asset classes fared over the week.
Stock Indices
S&P 500 (SPX)
The S&P 500 slowed to +0.94% WTD, ending at 6,025.92. Year-to-date, the index has climbed +2.08%, still fueled by optimism surrounding a resilient U.S. economy despite recent economic events.
Top Gainer:
Expedia (EXPE): +17.27%, $202.37
Top Loser:
Norwegian Cruise Line Holdings (NCLH): -3.36%, $27.33
Dow Jones Industrial Average (DJI)
The Dow Jones fell behind indices with a +0.08% WTD at 44,303.01. However, it still has the highest YTD at +3.85%.
Top Gainer:
Nvidia (NVDA): +0.90%, $129.84
Top Loser:
The Travelers Companies (TRV): -0.99%, $245.19
Nasdaq 100 (NDX)
The tech-heavy Nasdaq 100 advanced with a +1.93% WTD gain, at 21,491.41. Year-to-date, the index has surged +1.76%, just trailing behind the Dow Jones.
Top Gainer:
Palo Alto Networks (PANW): +3.51%, $193.94
Top Loser:
Microchip Technology Incorporated (MCHP): -2.30%, $51.89
Russell 2000 (RUT)
The Russell 2000 rose +1.55% WTD, at 2279.7. The index is also up +1.69% YTD, with positive outlooks on smaller companies amid economic events.
Options
Highest Open Interest
VIX Feb 2025 30.000 call (26.32%)
VIX Mar 2025 30.000 call (14.93%)
VIX Mar 2025 60.000 call (13.64%)
VIX Mar 2025 20.000 call (11.11%)
VIX Mar 2025 20.000 call (9.38%)
EEM Jan 2026 48.000 call (-0.86%)
HYG Feb 2025 78.000 put (0.00%)
HYG Mar 2025 78.000 put (50.00%)
NVDA Mar 2025 122.000 put (-3.97%)
VIX Feb 2025 17.000 put (-30.30%)
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Commodities
Crude Oil
Oil prices continues to drop at -2.03% WTD, ending at $71.96, reflecting increased supply levels and easing geopolitical tensions in key producing regions. Year-to-date, it is still up by +0.10%, though there are concerns in the wake of President Trump’s tariffs.
Gold
Gold rises +2.62% WTD at 2886.09, maintaining its safe-haven appeal amid market uncertainties. The precious metal also jumped to +10.74 YTD.
Currencies
USD/EUR
The U.S. dollar continues to weaken against the euro, declining -0.79% WTD. However, it is up +0.75% YTD, though more tariffs in the future might affect it.
USD/GBP
The British pound also gained slightly against the U.S. dollar, with USD/GBP falling -0.91% WTD but showing a +1.16% YTD increase.
Interest Rates
The U.S. 10-Year Treasury Yield dropped -1.79% WTD, reflecting investor concerns over recent economic events. YTD, the yield also fell by -1.88%.
Key Takeaways
- Equity markets posted mediocre gains, with the Dow Jones still leading the way on strong financial earnings.
- Crude oil continues to decline, while gold remained strong.
- The euro and British pound moved against the U.S. dollar over more tariffs in the future.
- Interest rates falls over fears of the US Treasury Department’s refinancing plans.
Looking Ahead
Next week, President Trump plans to enact more tariffs to more countries, which could lead to higher volatility in the market.