Stock Markets
Major U.S. stock indexes showed mixed performance this week, with markets displaying cautious optimism amid ongoing corporate earnings season preparations. The 30-stock Dow lost 142.30 points, or 0.32%, ending at 44,342.19. The S&P 500 inched 0.01% lower to close the session at 6,296.79. The tech-heavy Nasdaq Composite added just 0.05% to settle at 20,895.66.
The week saw notable volatility with some sessions showing strong gains followed by modest pullbacks. During Thursday’s session, 27 stocks in the S&P 500 traded at new 52-week highs. Names that hit this milestone included the following: Warner Bros. Discovery trading at levels not seen since August 2023 · Citigroup trading at levels not seen since November 2008 · Coinbase trading at levels.
Market sentiment remained cautiously optimistic as investors positioned ahead of key earnings reports. Magnificent Seven earnings are kicking off next week, with Alphabet and Tesla the first major technology companies to report their quarterly results.
The broader market trend has shown resilience, with the US500, fell to 6297 points on July 18, 2025, losing 0.01% from the previous session. Over the past month, the index has climbed 5.51% and is up 14.38% compared to the same time last year.
Small-cap stocks continued to outperform their large-cap counterparts during this period, with Small cap stocks (Russell 2000 Index) gained +5.4% and outperformed large caps (S&P 500 Index) which returned +5.1%. Smaller stocks may have outperformed on hopes of future rate cuts and easing geopolitical tension.
U.S. Economy
The labor market showed signs of stability this week with jobless claims data providing mixed signals. Initial Jobless Claims in the United States decreased to 221 thousand in the week ending July 12 of 2025 from 228 thousand in the previous week, indicating a modest improvement in employment conditions.
However, continuing claims showed a slight uptick, with Continuing Jobless Claims in the United States increased to 1956 thousand in the week ending July 5 of 2025 from 1954 thousand in the previous week, suggesting that while fewer people are filing for initial unemployment benefits, those already unemployed are taking longer to find new positions.
The job market data comes as investors await more comprehensive employment figures and continue to monitor Federal Reserve policy signals regarding potential interest rate adjustments later this year.
Metals and Mining
Precious metals markets showed mixed performance this week, with gold maintaining its position within established trading ranges. Gold prices mostly sideways this month and continue trading inside the range which formed at the beginning of the month. We still maintain bullish outlook on the price and expect bullish continuation from the current level.
Silver continued to face pressure, with technical analysis suggesting Silver prices continue the bearish movement and might attempt to retest the broken resistance level $37.25. When there are bullish reactions after the test, traders could enter long positions targeting $40.00. However, if the price extends the bearish movement and fall below $35.25, then further declines could be expected.
The broader precious metals complex remains in a consolidation phase, with traders watching key technical levels for potential breakouts in either direction.
Energy and Oil
The oil market showed continued volatility this week, with crude prices trading in a defined range. The price of crude oil mostly trading between $65.00 – $70.00 now, reflecting ongoing uncertainty about global supply and demand dynamics.
Technical analysis suggests the energy sector remains in a critical phase, with a possible bearish flag forming where a breakout below $63.89 will become a confirmation for movement to target $54.50 – $55.50. Traders better monitor closely the price reactions inside the channel for now. Bearish fake out could happen too and invalidate the bearish pattern.
The oil market continues to be influenced by geopolitical factors, supply chain considerations, and shifting demand patterns as global economies navigate current economic conditions.
Natural Gas
Natural gas markets experienced notable movements this week, though specific pricing data for the current reporting period requires further monitoring. The sector continues to be influenced by seasonal demand patterns, storage levels, and broader energy market dynamics.
International natural gas markets remain volatile, with European and Asian markets showing divergent trends based on regional supply and demand factors.
World Markets
European markets showed resilience this week, building on recent gains as investors remained cautiously optimistic about regional economic conditions. Central bank policy expectations continue to influence market sentiment across the European Union.
Asian markets displayed mixed performance, with investors closely watching economic data releases and policy developments from major economies in the region. The ongoing focus on trade relationships and economic cooperation agreements continues to impact market sentiment.
Chinese markets faced headwinds as investors evaluated recent economic data and policy announcements. The property sector remains a key area of concern, while manufacturing and technology sectors showed varied performance.
Japanese markets experienced volatility as investors weighed domestic monetary policy expectations against global economic trends. The yen’s movement against major currencies continued to influence export-heavy sectors.
The Week Ahead
The upcoming week promises to be eventful for financial markets, with several key developments on the horizon:
Key Topics to Watch:
• Magnificent Seven earnings reports, beginning with Alphabet and Tesla
• Federal Reserve policy communications and economic data releases
• Continued monitoring of jobless claims data for labor market trends
• Oil market technical levels and potential breakout scenarios
• Precious metals consolidation patterns and potential trend reversals
• European Central Bank policy expectations and regional economic indicators
• Asian market responses to trade and economic developments
Economic Releases to Monitor:
• Weekly jobless claims data
• Manufacturing and services PMI updates
• Consumer sentiment indicators
• Corporate earnings from major technology companies
• Energy inventory reports
• International trade data
Investors will be particularly focused on earnings results from major technology companies, as these reports could set the tone for broader market sentiment heading into the final weeks of July. The combination of corporate fundamentals, economic data releases, and ongoing geopolitical developments will likely continue to drive market volatility and investment decisions in the days ahead.