The S&P 500 reached a new high, fuelled by technology stocks. Despite weak US private jobs data, optimism prevailed thanks to a Vietnam trade deal and significant bank dividend increases. However, UK politics sparked fresh concerns, causing the pound and UK domestic equities to decline. Meanwhile, copper prices are surging due to tariff-induced stockpiling in the US – Carsten Menke, Head of Next Generation Research, provides his take.(00:00) - Introduction: Helen Freer, Investment Writing
(00:24) - Markets wrap-up: Mike Rauber, Investment Writing
(06:12) - Copper: Carsten Menke, Head of Next Generation Research
(10:27) - Closing remarks: Helen Freer, Investment Writing
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11:41
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11:41
Markets shrug off concerns on the upcoming tariff ‘D-day’
While European stocks had a subdued start yesterday, broader US indices managed to kick off the second half of 2025 firmly in the green, shrugging off concerns on the looming tariff ‘decision day’ on 9 July. However, big tech mega caps dragged down the S&P 500 and the Nasdaq. Talk of the day was the Senate’s passing of the ‘Big, beautiful (tax) bill’ as President Trump calls it, and a flurry of manufacturing activity reports from around the globe, which showed that this part of the economy keeps on facing challenges. Dario Messi, Head of Fixed Income Research, explains why he believes that the US Treasury yield curve is likely to steepen going forward.(00:00) - Introduction: Bernadette Anderko, Investment Writing
(00:28) - Markets wrap-up: Roman Canziani, Head of Investment Writing
(06:27) - Bond market update: Dario Messi, Head of Fixed Income Research
(12:55) - Closing remarks: Bernadette Anderko, Investment Writing
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14:04
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14:04
US trade deals back in the limelight
With geopolitics now taking a back seat again, investor attention is moving to US tariffs. Markets are focused on whether the EU and the US can conclude a trade deal in time for the 9 July deadline, while Canadian PM Carney yesterday said that US-Canada trade talks are set to resume after Canada withdrew its digital services tax on US tech companies. US equity markets rose yesterday, with both the S&P 500 and the Nasdaq 100 reaching new all-time highs. Manuel Villegas, Next Generation Research, provides an update on the crypto market and shares his outlook on digital assets for the second half of the year.(00:00) - Introduction: Helen Freer, Investment Writing
(00:27) - Markets wrap-up: Jonti Warris, Investment Writing
(06:28) - Digital assets: Manuel Villegas, Next Generation Research
(11:49) - Closing remarks: Helen Freer, Investment Writing
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12:56
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12:56
Trade progress
Global equity markets closed the week on a strong note, fuelled by a series of positive developments. Trade progress, delayed trade deadlines, an important change to Trump's ‘One big, beautiful bill’, and NATO's new defence spending target all contributed to the upward momentum, propelling the S&P 500 to a new all-time high. Meanwhile, gold is on track for its first monthly decline this year. Mensur Pocinci, Head of Technical Analysis, explains why new all-time highs for US equities are a bullish signal and why he expects the US dollar to continue to weaken.(00:00) - Introduction: Bernadette Anderko, Investment Writing
(00:26) - Markets wrap-up: Jan Bopp, Investment Writing
(04:58) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis
(07:21) - Closing remarks: Bernadette Anderko, Investment Writing
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8:28
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8:28
Cheap dollars anybody?
As the US dollar hits a three-and-a-half year low against its major counterparts, global stock markets continue to attract buyers, particularly in Japan, Germany, and the US. With major US equity indices poised to break their previous records set in February, a sense of (rare) geopolitical calm appears to be taking hold, leading to a consolidation in gold prices. Joining us to share his expertise is Tim Gagie, Head of FX/PM Private Banking Sales in Geneva, who shares his views on the weakening US dollar and the surge in palladium prices.(00:00) - Introduction: Bernadette Anderko, Investment Writing
(00:21) - Markets wrap-up: Roman Canziani, Head of Investment Writing
(06:04) - FX and metals markets: Tim Gagie, Head of FX/PM PB Geneva
(10:03) - Closing remarks: Bernadette Anderko, Investment Writing
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Moving Markets is a daily market news briefing from Julius Baer. Our experts discuss the latest market developments and put the headlines in perspective to set you up for the coming day. The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.
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