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WEEKLY SUMMARY: Stocks gain as SpaceX soars, U.S.-Iran deal nears
Major U.S. stock indexes ended the volatile week higher as cautious optimism around a possible U.S.-Iran agreement, declining oil prices, and continued broadening beyond large-cap tech stocks helped offset mixed inflation data and volatility in AI-related shares. Small-cap stocks led the advance, with the Russell 2000 Index rising 3.9%, while the Dow, S&P 500, and Nasdaq Composite all added over 0.6%. The Russell 1000 Value Index outpaced its growth counterpart for the second week in a row. Risk appetite improved late in the week, following reports of progress toward a U.S.-Iran agreement and President Trump’s cancellation of planned strikes. SpaceX completed the largest IPO on record on Friday, with shares soaring 19% in the 1st day of trading. Weekly US macro data included inflation data, with headline CPI being lifted by surging energy prices as core CPI moderated. Jobless claims rise; consumer sentiment sees modest improvement. US Treasury yields slide amid Middle East de-escalation hopes. The STOXX Europe 600 Index ended the week up 1.69% as ECB hiked interest rates for first time since 2023. Japan’s stock markets declined over a highly volatile week, with the Nikkei 225 index falling 0.85% as investors brace for upcoming BoJ meeting. The dollar had the worst week since early May, erasing about half the spike on last Friday's payrolls print. Gold prices ended lower (despite weaker dollar) testing down to its lowest since Nov 2025 mid-week.
Have a great weekend!
Charles & Syz Research Lab
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