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Investment Weekly

US stocks rally, but what comes next?
04 July 2025
    Articles

    Chart of the week – US stocks rally, but what comes next?

    Chart of the week – US stocks rally, but what comes next?

    US equities hit another record high this week. All is well again in the world. But can it really be that the policy shocks of recent months are simply going to fade into the background? We think that having rallied hard, US stock markets could now be sensitive to negative news. When you combine that with concerns over “deficits forever”, Fed leadership, and a potential re-escalation of tariff tension on 9 July, volatility could be on the horizon.

    More from this week:

    Market Spotlight

    • Taking the credit

    Lens on…

    • Tech’s back… but risks remain
    • Credit recovery
    • Alpha in India

    Read the full commentary PDF, 570KB

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