Weekly Market Update – April 7, 2025
- Taylor Champion
- Apr 7
- 2 min read
Price Return Last Week
S&P 500 (9.1%) S&P Mid Cap (9.1%) Russell 2000 (9.7%)
MSCI EAFE (6.9%) MSCI EM (3.0%)
10 Yr US Treasury Rate – fell from 4.26% to 3.99%
Source: Refinitiv Eikon
Recent News
Tariffs – The Trump Administration announced a new plan for imposing sweeping tariffs on foreign countries on Wednesday. Effective April 5, all imports will be subject to a tariff of at least 10% with numerous countries seeing tariff rates far higher. China will face a 70% tariff, Japan will see a 24% tariff, and the European Union will be subject to a tariff of 20%.
Source: The Wall Street Journal
Foreign Country Tariff Response – Foreign countries have offered a mixed set of responses to the new tariffs. Canada, the European Union, and Mexico are expected to announce countermeasures in the coming days. China announced a 34% tariff rate on all American goods on Friday. Australia, India, and Japan have indicated that they don’t currently expect to retaliate. Trump stated on Friday that Vietnam has already contacted him about cutting their tariffs to zero.
Source: The Wall Street Journal
Market Reaction – The S&P 500 dropped over 10% in the last two trading sessions, erasing over $6 trillion in value. The Nasdaq is off over 20% from its highs in February, officially entering bear market territory. Oil prices collapsed with stocks and finished the week at around $62 a barrel, the lowest level since 2021. Meanwhile, Treasury bond prices surged as yields fell to their lowest level since last October. J.P. Morgan upped their odds of a recession to 60%.
Source: Refinitiv Eikon, The Wall Street Journal
Fed Response – Federal Reserve Chair Jerome Powell stated that he thought the U.S. economy was likely to face higher prices and lower growth as a result of the recently announced tariffs. However, he noted that it was too soon to talk about adjusting interest rates and they would like to wait-and-see.
Source: The Wall Street Journal
Jobs Report – Mar: 228k (Reuters Poll est. 135k) Feb: 117k
In what will probably be considered one of the most overlooked jobs reports in recent memory, the U.S. economy added significantly more jobs than anticipated. Nevertheless, the report highlights the strong foundation of the labor market. This report showed government payrolls declining by 4,000 jobs as many workers who were recently dismissed are still considered to be on administrative leave or part of a deferred resignation.
Source: Thomson Reuters
Pantone 342 Jacket – The history of green jackets being worn at the Masters goes back to 1937 when members of Augusta National decided to wear the jackets so they could be recognized if any fans in the audience had questions about the tournament. This was later expanded to Masters winners in 1949 with Sam Snead receiving the first winner’s jacket. For those looking to replicate the jacket at home, the color of the jacket is Pantone 342.
Source: NBCSports.com
Upcoming Events
4/8 – Notable Earnings Reports: Walgreens Boots Alliance
4/9 – Fed Minutes, Notable Earnings Reports: Constellation Brands
4/10 – CPI, Notable Earnings Reports: Smurfit WestRock
4/11 – Consumer Sentiment, Notable Earnings Reports: BlackRock, JPMorgan Chase, Morgan Stanley, Wells Fargo
Source: Refinitiv Eikon
Comments