Economic Data and Market Highlights
Equity markets continued to decline during the week. Investors were hopeful that Nvidia’s earnings would stem the losses of the overall market, but despite blowout numbers, equities continued their decline with a 3.6% reversal on Thursday, which was the largest since the tariff turmoil in April.
The S&P 500 fell 1.91% for the week. Developed markets ( MSCI EAFE) fell 3.39%. Emerging market (MSCI EM) declined 3.71%.
As we noted last week, Bitcoin fell into negative territory for the year and proceeded to fall almost 11% this week. The decline represents the biggest drawdown since bitcoin ETFs were listed in 2024.
The Past Week’s Notable US data points (with revisions)
The Upcoming Week’s notable US data points
Source: Morningstar
Data Source: Jim Bianco Research, Charles Schwab and Co, Financial News London, Financial Times, Kobelessi Letter Morningstar, MarketWatch, Standard & Poor’s, and the Wall Street Journal.
Authors:
Jon Chesshire
Michael McNamara