Weekly Market Update – June 9, 2025

Price Return Last Week

S&P 500 +1.5% S&P Mid Cap +1.7% Russell 2000 +3.2%

MSCI EAFE +0.7% MSCI EM +2.3%

10 Yr US Treasury Rate – rose from 4.42% to 4.51%

Source: Refinitiv Eikon

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Recent News

Rare Earth Minerals – China has agreed to grant temporary export licenses to rare earth mineral suppliers of the top three U.S. automakers.  China had previously restricted exports of rare earths and magnets in April, which caused automakers, aerospace manufacturers, and semiconductor companies problems as they lacked the materials necessary for manufacturing.  Ford had stated that they shut down the production of its Explorer SUV for a week in May due to a shortage of rare earth minerals.  China currently produces around 90% of several key rare earth minerals.

Source: CNBC.com

Jobs Report – May: 139k (Reuters Poll est. 130k) Apr: 147k

Recent job gains were roughly in-line with analyst expectations.  More jobs were added in May than expected but jobs added in April were revised down slightly.  Federal government employment was modestly lower with 22,000 fewer jobs than the month prior.  This is the fourth consecutive month of federal government job declines.

Source: The Wall Street Journal

ECB Cuts Rates – For the eighth time in the last year, the European Central Bank lowered interest rates.  The new deposit rate was adjusted to 2% from 2.25%.  This is in contrast to the Federal Reserve, which has only lowered rates three times in the last year.  The difference between rates in Europe and the U.S. is now 2.25%, the largest spread since 2019.

Source: The Wall Street Journal, Refinitiv Eikon

Like a Rolling Stone – On June 16, 1965, Bob Dylan recorded “Like a Rolling Stone” at Columbia Records Studio in Manhattan.  Despite being named as the greatest song of all time by Rolling Stone magazine, the single never peaked higher than #2 on the Billboard charts.  It was an inspiration to Jann Wenner who would eventually name his magazine Rolling Stone, partly in tribute to the track.

Source: History.com, Minnesota Public Radio

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Upcoming Events

6/11 – CPI

6/12 – PPI

6/13 – Consumer Sentiment

Source: Refinitiv Eikon