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Silent Rally: Wall Street Hits Records While Markets Catch Their Breath

While international headlines calmed down, the U.S. stock market took the opportunity to advance, hitting new records. Want to understand why this "calm" is great news for your investments?

Silent Rally: Wall Street Hits Records While Markets Catch Their Breath

In a week without major headlines, the U.S. stock market did what it does best in times of relative calm: go up. 

As geopolitical tensions began to ease and the Federal Reserve maintained a cautious wait-and-see approach, the S&P 500 and Nasdaq quietly hit new all-time highs. It was a week of steady gains — optimism wasn’t loud, but it was clearly present in every market move.

Wall Street Keeps Climbing: New Highs Without the Hype

Almost unnoticed, the main U.S. indexes posted one of their strongest weeks of the year. The S&P 500 rose by a solid 3.4%, the Nasdaq surged 4.2%, and the Dow Jones climbed 3.8%.

Once again, big tech led the charge — Nvidia, Apple, Amazon, and Microsoft continued their winning streaks, boosted by strong fundamentals, growing interest in artificial intelligence, and capital flows seeking shelter in tech amid macro uncertainty.

Geopolitical Truce: Oil Falls and Markets Breathe Easier

After weeks of tension in the Middle East, with rising friction between Israel and Iran, markets welcomed news of a ceasefire. Fears of escalation that had pushed oil close to $70 a barrel quickly faded, and crude prices dropped by 4%.

This brought relief to investors, especially as falling oil prices also eased inflation expectations — indirectly supporting the narrative of a possible Fed rate cut in the coming months.

The Fed Is Watching, But Not Moving Yet

For now, the Federal Reserve remains on the sidelines. There were no new policy announcements, but the message remains consistent: progress is being made on inflation, but the Fed needs more evidence before taking action.

The spotlight now turns to this week’s jobs report, which could confirm whether the economy is genuinely slowing down or simply taking a breather. Meanwhile, futures markets are already pricing in a high probability of a rate cut in September.

A Strong First Half, With More Clarity Than Doubt

The year began with many questions — soft landing or recession? Higher rates for longer? Tech bubble or transformation? — but it ends the first half with more answers than uncertainty.

Companies have shown resilience, inflation data has improved, and monetary policy is beginning to offer clarity. Investors responded by quietly pushing the Nasdaq and S&P 500 to new all-time highs.

Quick Recap:

S&P 500: +3.4% — Nasdaq: +4.2% — Dow Jones: +3.8% — Brent crude: –4%, easing inflation concerns

What to Watch Next?

All eyes are on the next jobs report. If it confirms a strong but non-overheating economy, the case for a rate cut grows. PMIs and early July consumer data will also be critical.

For now, markets are taking a well-earned breather — no fireworks, just record highs in the rearview mirror.



The opinions in the preceding commentary are as of the date of publication and are subject to change.  Information has been obtained from third party sources we consider reliable, but we do not guarantee the facts cited are accurate or complete.  This material is not intended to be relied upon as a forecast or investment advice regarding a particular investment or the markets in general, nor is it intended to predict or depict performance of any investment. We may execute transactions in securities that may not be consistent with the report’s conclusions.  Investors should consult their financial advisor on the strategy best for them.  Past performance is no guarantee of future results. For illustrative purposes only. Does not represent an investment recommendation. For more information, please see our Social Media Disclosure.

Securities offered by Northbound Securities, LLC Member FINRA/SIPC 

Sources: Bloomberg, Reuters Energy, CNBC Markets, ISM Manufacturing Report