Jerry O’Callaghan, former chairman of JBS SA, heart, speaks with a dealer on the ground of the New York Inventory Alternate in New York, U.S., on Wednesday, June 25, 2025.
Michael Nagle | Bloomberg | Getty Photos
I’m Spriha Srivastava, CNBC Worldwide’s govt editor for digital, and I’m writing to you as we speak from Singapore.
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Markets this week? Completely unbothered — like they’re on a seashore someplace, sipping a chilly drink and ignoring the headlines.
Geopolitical tensions flared (once more), oil costs plunged, and protection shares could not make up their thoughts — however the broader market? Barely blinked. The S&P 500 flirted with report highs, the Nasdaq saved cruising because of its AI darlings, and even small caps obtained in on the motion. It is nearly as if buyers seemed on the chaos and stated, “Meh, we’re good.”
What’s driving this chilled-out temper? A part of it’s rate-cut optimism creeping again in. Oil’s sudden drop took some inflation stress off the desk, and dovish murmurs from the Fed gave merchants simply sufficient hope that September might be in play for a lower. Bond yields eased, and threat urge for food returned.
Positive, there are dangers all over the place — from Center East tensions to stretched valuations in some corners of the market — however proper now, Wall Avenue appears to be in full summer season mode. Cool, calm, and barely indifferent.
Will it final? Arduous to say. Markets have a behavior of waking up simply whenever you least count on it. However for now, they’re tuning out the noise and catching rays.
What it is advisable to know as we speak
And at last…
Merchants work on the ground on the New York Inventory Alternate on June 23, 2025.
Brendan McDermid | Reuters
The S&P 500 is lower than 0.1% away from closing at a brand new report, rebounding from a close to 20% sell-off in April.
The wall of fear has been crumbling little by little over the previous 4 months. Maybe most significantly, as Trump backed off from the stiffest tariffs on key U.S. companions.
Company earnings have additionally held up nicely regardless of coverage uncertainty. For the second quarter, the S&P 500 earnings grew by 4.9%, marking the eighth consecutive quarter of year-over-year earnings development for the index, based on FactSet.
— Yun Li
