Weekly Market Update

Last week’s market highlights, closing
performance,
market indicators and the week ahead.

weekly market update | 4 min read

Investors Seek Foreign Ports During US Trade Storm

April 21, 2025

Last week, the S&P 500 inched up by 0.28% while the Dow and Nasdaq declined by -1.14% and -0.62%. Investors continued to grapple with the effects of the administration’s tariffs and US-China tensions.

weekly market update | 4 min read

Volatile Week for Markets

April 14, 2025

The S&P 500, Dow and Nasdaq climbed by 5.70%, 4.95% and 7.29%. Financial markets experienced significant volatility on tariff developments, better-than-expected inflation data and a drop in consumer sentiment.

weekly market update | 4 min read

US Hikes Import Taxes Ten-Fold to Deglobalize

April 4, 2025

The Trump administration’s April 2 tariff announcements surprised the market with their scale and their breadth. Our best estimate is that full delivery of these tariffs would increase 2024’s effective tariff rate by 10X, to ...

weekly market update | 4 min read

How Well Can the US Absorb Tariff Shock?

March 31, 2025

Citing national security, President Trump signed a proclamation adding 25% tariffs on US vehicle and parts imports to be phased in within coming days and weeks.

weekly market update | 4 min read

Stay the Course

March 24, 2025

Two factors have contributed to market weakness over the past two months: The release of Chinese AI DeepSeek in late January drove a fundamental rethink of the multi-year AI infrastructure trade. The selloff has since “broadened ...

weekly market update | 4 min read

Hitting the Tariff Button

March 17, 2025

Tariffs to protect US industry from competition and collect tax revenue would generally move the US toward an economic model most prevalent in Emerging Markets economies. These are generally not known for their economic success.

weekly market update | 4 min read

The US Economy Slows in 1Q25

March 10, 2025

Last week, the S&P 500, Dow and Nasdaq fell by -3.10%, -2.37% and -3.45% amid escalating and deescalating tariff developments with Mexico and Canada while those recently applied to China rose another 10% to 20%.

weekly market update | 2 min read

Tariff Time: Markets Quickly Repricing Growth, Will Assess Opportunities

March 4, 2025

Effective US tariffs of 20%-25% on Mexico, Canada and China have begun on President Trump’s orders.

weekly market update | 4 min read

Globalization Strikes Back

February 24, 2025

The S&P 500, Dow, and Nasdaq fell by -1.66%, -2.51%, and -2.51%. The S&P 500 recorded a new all-time high on Wednesday before University of Michigan data showed consumer sentiment dropping to a 15-month low with 1-year inflation expectations rising to 4.3% from 3.3% last month.

weekly market update | 4 min read

When the World Divides

February 18, 2025

Trump announced reciprocal tariffs on Thursday but later added they would not start until April which relieved investors.

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Important Information

An investor cannot invest directly in an index. They are shown for illustrative purposes only and do not represent the performance of any specific investment. Index returns do not include any expenses, fees or sales charges, which would lower performance.

The MSCI ACWI (All Country World Index) captures large and mid cap representation across 23 Developed Markets (DM) and 23 Emerging Markets (EM) countries. With 2,483 constituents, the index covers approximately 85% of the global investable equity opportunity set.

S&P 500 Index is an unmanaged, market value-weighted index of 500 stocks generally representative of the broad stock market. An investment cannot be made directly in a market index.

Dow Jones Industrial Average is a price-weighted index of the 30 “blue-chip” stocks and serves as a measure of the U.S. market, covering such diverse industries as financial services, technology, retail, entertainment and consumer goods. An investment cannot be made directly in a market index.

The Nasdaq composite index is a market-capitalization weighted index of more than 3,000 common equities listed on the Nasdaq stock exchange. The types of securities in the index include American depositary receipts, common stocks, real estate investment trusts (REITs) and tracking stocks.

The MSCI Europe Index captures large and mid-cap representation across 15 Developed Markets (DM) countries in Europe. With 444constituents, the index covers approximately 85% of the free float-adjusted market capitalization across the European Developed Markets equity universe.

The MSCI Japan Index is designed to measure the performance of the large and mid-cap segments of the Japanese market. With 320 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in Japan.

The MSCI Emerging Markets Index reflects performance of large and mid-cap stocks in roughly 20 emerging markets.

The Citi World Broad Investment Grade Bond index is weighted by market capitalization and includes fixed rate Treasury, government sponsored, mortgage, asset backed, and investment grade (BBB–/Baa3) issues with a maturity of one year or longer and a minimum amount outstanding of $1 billion for Treasuries, $5 billion for mortgages, and $200 million for credit, asset-backed and government-sponsored issues.

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