U.S. equities marked another week of measured progress, balancing resilient technology sector momentum with persistent uncertainties around inflation, central bank policy, and global trade. The S&P 500 and Nasdaq again set fresh records midweek before retreating slightly, while cyclicals and small-caps gained new life, hinting at the market’s underlying breadth and changing risk appetite. Yes indeed, equity markets navigated conflicting signals—robust spending and tech innovation versus persistent inflation and policy uncertainty—leaving investors watchful for clarity on the next Fed move, the direction of trade talks, and whether market leadership will rotate more decisively beyond mega cap technology in the weeks ahead.
Index Performance
- S&P 500: Advanced modestly for the week closing at 6449.80, +.9% flirting with new record highs and finishing just below its peak as investors digested mixed macro data and ongoing rate cut speculation.
- Dow Jones Industrial Average: Climbed about 1.7% closing at 44,946.12, as blue-chips rebounded behind strong retail and industrial names and UnitedHealth (UNH, $304.01, +21.17% over the last 5-days) rose after it Warren Buffet’s Berkshire took a significant stake.
- Nasdaq Composite: Hit a record before profit-taking late in the week closing at 21622.98, +,8%; AI and technology leaders remain the market’s primary engine, though gains moderated on Friday.
- Russell 2000: Outshone its counterparts with a robust 31% weekly increase closing at 2,286.52, reflecting revived risk appetite and optimism in domestic small-cap sectors.
Macroeconomic Reports
- Inflation: July headline CPI rose 2.8% year-on-year, with core inflation staying stubbornly above the Fed’s 2% target. Producer prices saw a notable 0.9% jump in July—the fastest pace in three years—amplifying concerns about sticky costs.
- Retail Sales: July data beat expectations at +0.5%, underlining the American consumer’s resiliency, particularly in autos, e-commerce, and home goods.
- Labor Market: Initial jobless claims saw a mild uptick, and ongoing claims trend higher, pointing to slower, but not collapsing, labor market momentum.
- Industrial Data: Factory orders and industrial production weakened, dampening hopes for a broad-based industrial acceleration.
Corporate & Sector Highlights
- NVIDIA (NVDA, $180.45): After a historic rally, shares slipped 1.23% over the last 5-days as investors took profits following a string of AI milestones and product launches. Market participants remain laser-focused on the company’s August earnings and forward guidance.
- Tesla (TSLA,$330.56): Ended the week up .18% over the last 5-days, buoyed by investor enthusiasm over upcoming robotaxi and battery tech events, but tariff-related risks lingered.
- Meta Platforms (META): Closed +2.07% over the last 5-days at $785.23.
- McDonald’s (MCD): Rose 1.14% over the last 5-days to close at $308.93, supported by continued solid U.S. same-store sales and its defensive allure in a choppy macro environment.
- Oracle (ORCL): Declined nearly .71% over the last 5-days closing at $248.28 after announcing cuts in its cloud business, reflecting heightened scrutiny on tech sector costs.
- Palantir Technologies (PLTR): Swung 5.24% lower to close at $177.17 as profit-taking followed the company’s S&P 500 inclusion and strong multi-sector contract growth.
- Rio Tinto Group (RIO): Closed 1% lower this week to close at $61.24 as metals prices stabilized and the company advanced its Australian bauxite investment strategy.
Mergers, Acquisitions & IPOs
While major S&P 500 M&A activity remained relatively quiet, IPOs supplied new market energy & by mid-August, IPO activity has surged well beyond the usual pace for the month of 9, with a dozen offerings of $50 million or more generating approximately $2.9 billion in total proceeds.
Miami International Holdings, Inc. (MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, announced the pricing of its initial public offering of 15,000,000 shares of its common stock at a price to the public of $23.00 per share, $2.00 above the high end of the expected price range. The shares of common stock began trading on the New York Stock Exchange under the ticker symbol “MIAX” on August 14, 2025. The offering was expected to close on or around August 15, 2025. MIAX closed at $31.12.
Shares of Bullish climbed after the cryptocurrency exchange raised $1.1 billion in an initial public offering.
The stock opened at $90 on the New York Stock Exchange under the ticker BLSH. Bullish priced its IPO at $37 per share, far above the expected range and closed at $69.54 on Friday.
Trade & Tariffs
A temporary U.S.-China tariff truce remains in effect until November, with punitive rates on select semiconductor, auto, and commodity goods. A newly implemented 50% tariff on copper-intensive products took effect August 1, and further tariff escalation remains a risk, as trade negotiations remain unresolved into fall.
Monetary Policy, Yield Curve & FOMC
Despite sticky inflation, yields steepened modestly—Treasury rates up 1–4bps—as traders price in an 87% chance of a September Fed rate cut, with the FOMC’s next policy decision due September 17. Markets remain captivated by the interplay between resilient consumption and persistent service sector inflation.
Commodities & Cryptocurrencies Closing Prices
- Gold: Closed up .85% to $3,381.70/oz as hotter U.S. data lifted the dollar and yields, undercutting hopes for rapid rate cuts.
- Silver: Rose .95% to $38.02/oz.
- Crude Oil : Slumped 1.28% to close at $63.14/bbl over the last 5-days.
- Bitcoin: Traded ~$117,610 today after hitting a new-all-time high of $125,200 this week
