Jerry O’Callaghan, former chairman of the Center JBS SA, spoke to a businessman on the floor of the New York Stock Exchange in New York, New York, USA on Wednesday, June 25, 2025.
Michael Nagle | Bloomberg | Getty Images
I am Spriha Srivastava, digital executive editor at CNBC International, and today I am writing to you from Singapore.
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The market this week? Totally unpopular – like they were on the beach somewhere, drinking cold drinks and ignoring the headlines.
Geopolitical tensions (again), oil prices fall, defense stocks can’t make up their minds, but a broader market? Almost no blink. The S&P 500 flirted at record highs, and Nasdaq continued to cruising due to its AI darling, and even the little hat joined the action. It almost seemed like the investor looked at the chaos and said, “Well, we’re fine.”
What drives this cold mood? This part is the gradual recovery of the optimism of rate cuts. The sudden drop in oil has relieved some inflationary pressures, and the Federal Reserve’s murmur has given traders enough hope that September will be cut. Bond yields have eased and risky appetite has returned.
Of course, there are risks everywhere – from tensions in the Middle East to valuations in certain corners of the market – but for now, Wall Street seems to be in full summer mode. Cool, calm, slightly disengaged.
Will it last? It’s hard to say. Market habits wake up when you least expect it. But for now, they are adjusting the noise and capturing light.
What you need to know today
at last…
Traders worked on the floor of the New York Stock Exchange on June 23, 2025.
Brendan McDermid | Reuters
How the stock market has recovered new records – even though it’s still worried
this S&P 500 Less than 0.1% from the end of the new record, rebounding from nearly 20% in April’s sold-out.
Over the past four months, the wall of worries has gradually collapsed. Perhaps most importantly, when Trump backs off the worst tariffs faced by key U.S. partners.
Despite policy uncertainty, company revenue also performed well. According to FACTSET, the 500 S&P 500 earnings rose 4.9% in the second quarter, marking the index’s eighth consecutive quarter of earnings growth.
— Yun Li
