General
May 2, 2025
Written by Curation
Weekly
S&P500: +1.46% FTSE 100: +1.65% Gold: +0.03%
YTD
S&P500: -4.51% FTSE 100: +3.81% Gold: +24.09%
Stock markets edged higher this week, buoyed early on by optimism around potential tariff concessions from the Trump administration and renewed hopes for a US-China trade deal. The momentum briefly faltered midweek after Q1 GDP data showed the US economy contracting by 0.3%—the first negative print since 2022—pushing recession odds up from 50% to 70%. However, the pullback was short-lived.
Markets rebounded strongly on the back of stellar earnings from megacap tech names: Microsoft (+9%) and Meta (+6%) both delivered upside surprises that reinvigorated the AI sector and helped extend the S&P 500’s winning streak to eight sessions, its longest since late 2023. The Nasdaq 100 outperformed, lifted by strength in tech, while defensive sectors lagged. The FTSE 100 continued to outperform year-to-date, underpinned by more resilient UK economic momentum.
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