Meanwhile, Nvidia now accounts for 3% of the global market cap. Each week, the Syz investment team takes you through the last seven days in seven charts.

The major U.S. stock indexes finished the week modestly lower, with the Nasdaq Composite Index holding up best. New tariffs were announced this week in more than 20 countries, with the 90-day pause extended to August 1. However, market reaction was muted compared with previous tariff announcements. NVIDIA hit the $4 trillion market capitalization threshold for the first time, helping put the “mega” in the so-called Mag 7 group of mega-cap stocks. On the macro side, US inflation, both June CPI and PPI came in on the low side with little signs that tariffs are pressuring prices higher. US core retail sales rose 0.5% MoM in June, and US industrial Production was up 0.3% - highlighting the resilience of the US consumer and manufacturing base amidst so much policy uncertainty.

Nvidia, the $4 trillion dollar chip, the Swiss franc goes for gold and never bet against Elon! Each week, the Syz investment team takes you through the last seven days in seven charts.

The major U.S. stock indexes finished the week modestly lower, with the tech-heavy Nasdaq Composite Index holding up best. Tariff news dominated the headlines, but market reaction was muted compared with previous tariff announcements. Growth stocks held up modestly better than value. NVIDIA hit the $4 trillion market capitalization threshold for the first time, helping put the “mega” in the so-called Magnificent Seven group of mega cap stocks. U.S. President Donald Trump announced 25% trade levies on major trading partners South Korea and Japan, as well as tariffs at varying levels on other countries, including Canada, South Africa, Thailand, and Malaysia. He also said that his administration would dramatically increase Brazil’s tariff to 50% in a move linked to the country’s legal proceedings against former right-wing President Jair Bolsonaro.

The US dollar begins 2025 with its weakest start since 1973 while the Swiss franc approaches its 2011 high of 1.3125 against the dollar. Each week, the Syz investment team takes you through the last seven days in seven charts.

Major U.S. stock indexes finished the holiday-shortened week higher. Small-caps index Russell 2000 outperformed (+3.5% over the week) followed by the Dow Jones (+2.3%). Both the S&P 500 and Nasdaq indices closed at all-time highs for the second week in a row. Much of the focus during the week centered around the progress of the Trump administration’s “Big Beautiful Bill”, which was narrowly passed by the Senate on Tuesday and by the House of Representatives on Thursday afternoon. Trade-related headlines also continued to flow during the week, with President Trump announcing a trade deal with Vietnam on Wednesday and making comments around negotiations with several other trade partners ahead of the upcoming July 9 tariff deadline, when the 90-day pause on reciprocal tariffs is expected to end.

ETF inflows surge, Nvidia reclaims top spot, and is Google leading the AI race? Each week, the Syz investment team takes you through the last seven days in seven charts.

US stocks rallied on the back of de-escalating tensions in the Middle East, dovish comments from several Federal Reserve officials, reports that the U.S. and China signed a new trade deal, and comments from several U.S. government officials indicating that more trade deals were close to the finish line. The S&P 500 Index and Nasdaq Composite, up 3.4% and 4.3%, respectively, both closed at record highs. On the macro side, Core PCE, Fed’s preferred inflation measure showed modest uptick in May, up 2.7% yoy. S&P Global reported that U.S. business activity expanded in June, albeit at a moderately slower rate than in May. U.S. Treasury yields decreased in response to some of the week’s softer-than-expected economic data as well as comments from several Fed officials indicating rate cuts could be on the table sooner than many have been anticipating.

Meanwhile, the Fed stays put at 4.25–4.5%, still pencilling in two rate cuts by year-end. Each week, the Syz investment team takes you through the last seven days in seven charts.

U.S. stock indexes finished the holiday-shortened week narrowly mixed, fluctuating throughout the week amid a slew of headlines regarding escalating tensions in the Middle East. Smaller-cap indexes performed best for the week, followed by the Nasdaq Composite, which posted modest gains. On Wednesday, the Federal Reserve kept the funds rate unchanged. The Fed’s Summary of Economic Projections showed that policymakers expect to make two interest rate cuts through the remainder of the year, unchanged from their previous projection; however, expectations for inflation and unemployment by the end of 2025 both rose, while projections for GDP growth declined. On Friday, Fed Governor Christopher Waller made comments suggesting the central bank could be in a position to cut rates as soon as July.