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Wall Street on Friday ended the week slightly lower, as sentiment was dented by trade war escalation. Still, U.S. stocks are at record levels, and the benchmark S&P 500 index (SP500) this week posted a new intraday high of 6,290.22 points.
U.S. President Donald Trump's tariff moves dominated headlines. The President issued letters to several countries outlining tariff rates against them, including major trading partners such as Japan, South Korea, Canada, Brazil, and the Philippines. He also targeted copper imports with a 50% tariff and said pharmaceuticals could be charged a levy of as much as 200%.
This week saw a major milestone for chipmaker Nvidia (NVDA). The Jensen Huang-led firm became the first publicly listed company to hit $4T in market capitalization.
The spotlight will shift from tariffs to the earnings season next week, though investors did receive a quarterly report from a major firm this week in the form of Delta Air Lines (DAL). The number one U.S. carrier delivered bullish results and upbeat guidance.
For the week, the S&P (SP500) shed -0.3%, the blue-chip Dow (DJI) fell -1%, and the tech-heavy Nasdaq Composite (COMP:IND) slipped -0.1%. Read a preview of next week's major events in Seeking Alpha's Catalyst Watch.
Seeking Alpha's Calls Of The Week
Syndax (SNDX) Is Oversold, Will Likely Benefit From Drug Approvals.
SPYI Vs. GPIX - Declaring The New King Of S&P 500 Income ETFs.
You May Not Find A Better Opportunity To Snap Up PepsiCo (PEP).
Valero (VLO): California's Refinery Shutdown Crisis Could Spread.
2025 Maturities Managed, These Notes (TRINZ) Are Now Attractive.
Neutral On Blue Owl Capital (OBDC) As Weaker Earnings Expected.
Coinbase (COIN) Stock Is Soaring, But My Thesis Has Broken Down.
Chevron (CVX) Rally Is A Selling Opportunity As Oil Set To Decline.
RxSight's (RXST) Revised Guidance Reflects Deeper Market Shifts.
Walmart's Now More Expensive Than Amazon - A Mispriced Extreme?
Weekly Movement
U.S. Indices
Dow -1% to 44,372. S&P 500 -0.3% to 6,260. Nasdaq -0.1% to 20,586. Russell 2000 -0.7% to 2,234. CBOE Volatility Index -6.2% to 16.4.
S&P 500 Sectors
Consumer Staples -1.8%. Utilities +0.8%. Financials -1.9%. Telecom -1.2%. Healthcare -0.3%. Industrials +0.6%. Information Technology +0.2%. Materials -0.3%. Energy +2.5%. Consumer Discretionary +0.1%. Real Estate +0.6%.
World Indices
London +1.3% to 8,941. France +1.7% to 7,829. Germany +2% to 24,255. Japan -0.6% to 39,570. China +1.1% to 3,510. Hong Kong +0.9% to 24,140. India -1.1% to 82,500.
Commodities and Bonds
Crude Oil WTI +3% to $68.45/bbl. Gold +0.5% to $3,364./oz. Natural Gas -2.2% to 3.314. Ten-Year Bond Yield -0.2 bps to 4.412.
Forex and Cryptos
EUR/USD -0.76%. USD/JPY +1.98%. GBP/USD -1.11%. Bitcoin +8.5%. Litecoin +8.2%. Ethereum +17.9%. XRP +26.5%.
Top S&P 500 Gainers
Delta Air Lines (DAL) +11%. Moderna (MRNA) +10%. PTC (PTC) +10%. The AES Corporation (AES) +9%. Tapestry (TPR) +9%.
Top S&P 500 Losers
Fair Isaac (FICO) -17%. First Solar (FSLR) -12%. Datadog (DDOG) -11%. Autodesk (ADSK) -11%. ServiceNow (NOW) -10%.
Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.
