Economic Data and Market Highlights
Markets were mixed this week as tariffs dominated a large portion of the conversation around the economy and the prospects for future growth. The Trump administration telegraphed last weekend that it was sending letters to various countries regarding the state of negotiations, setting another deadline of August 1st. These are country-specific and replace the reciprocal baseline tariffs of 10%. The latest came over the weekend with a 30% tariff being assessed to the EU and Mexico effective August 1st.
The replacement of Powell also continued to be discussed. While Powell maintains he can’t be fired and is not going to resign, the administration has interviewed candidates. The US Dollar Index rose slightly during the week but has declined 9.79% on a year-to-date basis.
Source: WSJ 7/13/25
AI stocks continued to churn upward as NVDA became the first company to hit $4Trillion in market cap. Meta has increased their investment in AI or “Super Intelligence” to $14.3 billion and made recent headlines poaching engineers from competitors. Elon Musk recently raised $5 billion into xAI, with $2 billion coming from sister company SpaceX.
The Past Week’s Notable US data points (with revisions)
The Upcoming Week’s notable US data points
Source: Morningstar
Data Source: Bloomberg, The US Bureau of Labor Statistics, Charles Schwab & Co, MarketWatch, Standard & Poor’s, and the Wall Street Journal.
Authors:
Jon Chesshire
Michael McNamara