Trading results for 23-27 June 2025
Last week turned out to be remarkably strong – unexpectedly so. The main driver behind this success was undoubtedly the swift and peaceful resolution of the Iran-Israel conflict. The news impressed investors to such an extent that they rushed into equities, buying everything in sight without hesitation or concern for other factors.
This is clearly reflected in the sector breakdown: 9 out of 11 economic sectors ended the week firmly in the green. Leading the charge were exactly those sectors typically responsible for driving the market in a growth phase – namely, major technology names in the Communication Services sector (average weekly gain of +5.73%), the broader Technology sector (+4.81%) and Consumer Cyclical (+4.07%).
Conversely, the week’s clear underperformers were oil and gas stocks in the Energy sector, which lost an average of almost 3% (-2.98%). Even that drop seems relatively mild considering that crude oil prices fell nearly 13% (-12.8%) over the same period.
In short, it was a hype-driven week, and neither Federal Reserve Chair Jerome Powell – who spoke for two days straight – nor U.S. President Donald Trump managed to spoil the party. Although the latter came close on Friday when, in the middle of the main trading session, he suddenly announced the suspension of trade talks with Canada. The market reaction was immediate and sharply negative. Fortunately, with a couple of hours remaining before the close, investors had just enough time to cool off, regain composure and end an otherwise strong week on a high and optimistic note.
As a result, and quite unexpectedly, all major U.S. indexes climbed to new heights and comfortably set fresh records. The only exception was the old-timer Dow Jones (DJIA-30), which made a solid effort and even gained more than its younger peer, the S&P 500 index: +3.82% versus +3.44%. However, it still fell short of the coveted 45,000 mark, having previously suffered a deeper correction.
Meanwhile, both the S&P 500 and NASDAQ Composite confidently pushed through to new highs. The S&P 500, the main benchmark of the U.S. market, surpassed its previous all-time high from 19 February, closing at 6,173 points. The NASDAQ Composite also hit a new record, beating its 16 December peak and ending the week at 20,273 points. A heroic performance indeed.
An even bigger standout was the ITS Shariah Index (ITSS), which broke its all-time high not once but four times (!!!), coming just short of the symbolic 1,300-point level. Its peer, the ITS World Index (ITSW), also joined the rally, closing at a new record high of 1,338 points.
In short, it was a week of records – much to investors’ delight. The market closed the week, the month and the quarter at unprecedented levels and is looking ahead with growing confidence. Investor sentiment has clearly improved and become noticeably less anxious. This applies not only to the U.S. market but also globally. For example, Hong Kong’s Hang Seng Index also posted local highs last week, returning to levels last seen in January 2022.
For now, we can celebrate this surge in optimism and the strong momentum set by the past week. But we should not let our guard down. As we all know – after a white stripe often comes a black one. So stay alert.