Trading results for 25 June 2025
Wednesday is usually a tough day, but not this time. After Tuesday’s solid rally, market players decided to take a short pause, and fortunately, nothing got in the way. Though it could have. First came some underwhelming data on new home sales for May: 623,000 versus the expected 700,000. Still, the market shrugged it off. Then came Fed Chair Jerome Powell’s turn to deliver his semi-annual report to the U.S. Senate. While there were no major surprises, Mr Powell did slightly dampen the market’s mood, but only slightly and not for long. As a result, the second half of the trading session passed in a calm and peaceful manner, which was clearly reflected in the day’s final figures.
Changes across all major U.S. indexes were minimal. The blue-chip Dow Jones (DJIA-30) slipped by 0.25%, largely due to a modest sell-off in McDonald’s (MCD) shares. Meanwhile, the tech-heavy NASDAQ Composite inched up by 0.31%. The spotlight here was on Nvidia (NVDA), which jumped more than 4% (4.33%) in a single day to reach a new all-time high. The surge in demand followed an updated forecast from Loop Capital, which raised its target price from 175 to 250 dollars while maintaining a “buy” rating.
As for the S&P 500, the main benchmark of the U.S. market, it essentially stood still, losing a mere 0.02 points (points, not %). No one was particularly surprised. The market needed a pause, and that is exactly what it got.
The ITS Shariah Index (ITSS) once again delivered a pleasant surprise, posting a confident gain for the second day in a row and setting a new all-time high with a 0.40% increase. As on the previous day, the main growth drivers were leading tech stocks. This time AMD, Apple (AAPL), Microsoft (MSFT), Cisco Systems (CSCO), and others joined Nvidia in the rally. Even Tesla (TSLA) could not derail the index’s upward momentum, despite losing nearly 4% of its market value (3.79%) on Wednesday following reports of a 28% year-on-year drop in its EV sales in Europe.
The ITS World Index (ITSW) struggled to withstand the Tesla sell-off, along with declines in several leading Chinese companies, including Alibaba (BABA). Overall, investor sentiment on global markets was subdued. Only 30% of the index’s constituents (16 out of 50) ended the day in the green. The decline was evenly spread across regions, with American, European, and Asian stocks all closing in the red. Fortunately, the losses were modest: the ITSW index slipped just 0.21%.
In summary, despite the near-flat performance of major indexes, market sentiment remains broadly positive. This suggests that a continued upward trend is likely in the near term, with the S&P 500 and NASDAQ Composite well positioned to reach new record highs.