Monday Briefing: UK and US Weekly Market Report 30.06.2025
| Market snapshot (week ending 29.06) | |||||
| Index | Close | Week | Market | Close | Week change |
| FTSE 100 | 8,798.91 | 0.72% | Gold Futures | 3,287.60 | -2.90% |
| FTSE 250 | 21,716.00 | 2.68% | Bitcoin (22.06) | 108,384.00 | 7.29% |
| FTSE AIM 100 | 3,711.64 | 1.48 % | UK 10yr Yield | 4.51% | -0.03% |
| S&P 500 | 6,173.07 | 3.44% | CBOE Volatility (VIX) | 16.59 | -19.54% |
| Dow Jones | 43,819.30 | 3.82% | Euro STOXX 50 | 5,3250.64 | 1.76% |
| NASDAQ 100 | 22,534.20 | 4.20% | GBP/USD | 1.3716 | 1.85% |
Source: ShareScope
Markets Recap
Last week saw strong gains in US equity markets, fuelled mainly by renewed enthusiasm for big tech. May’s PCE price index, the Federal Reserve’s preferred inflation gauge, came in at 2.3% YoY, in line with expectations and continuing the gradual disinflation trend. Core PCE showed a 2.7% gain, slightly above expectations. This, combined with the final estimate of Q1 GDP growth at 1.6% QoQ (annualised), showed that the US economy remains robust without overheating, supporting hopes for one to two rate cuts later in the year.
The S&P 500 and Nasdaq both hit new record highs, driven largely by continued strength in mega-cap tech stocks. Investor appetite remains elevated for companies at the forefront of artificial intelligence and cloud computing. Names like Nvidia, Microsoft, and Alphabet all posted notable gains, as expectations grow for another strong quarter of earnings and ongoing capital investment in AI infrastructure.
Geopolitically, the US pulled out of trade negotiations with Canada on Friday after Canada moved forward with a retrospective digital services tax targeting US tech giants. While the news briefly unsettled markets, it failed to dampen the broader rally. This decision was reversed late on Sunday, boosting pre-market trading on Monday morning.
In the UK, the pound hit its highest level against the dollar since 2021, creating a drag on large cap equities which derive much of the revenue is foreign currencies. This resulted in the FTSE 100 only inching higher for the week, lagging both its US and European peers.
Notable Corporate Earnings Reports
Babcock shares surged 11% on Wednesday following the company’s fiscal year earnings report, which showed a revenue increase of 11% and operating profit rise of 51%. The company, which is involved in military vehicle fleet management, as well as nuclear power, is well positioned as the UK ramps up defence spending and continues to explore nuclear as a source of power.
Nike shares leapt 15% on Friday after better-than-expected revenue guidance from management, and detailed a plan to deal with tariff-related costs by reducing footwear imports from China, with supply reallocated to other countries around the world.
FedEx shares dropped 3% after the logistics company gave a downbeat outlook for Q3 and declined full year guidance due to tariff uncertainty. The stock did however recover its losses by Friday’s close.
Micron Technology gave an upbeat outlook for Q3 in addition to posting a healthy beat on top line and EPS. The stock opened higher but closed down 1% on the day, possibly in a sign that investor expectations had become slightly extended.
Upcoming Data Releases
June’s US non-farm payrolls and unemployment rate will be reported on Friday. It is estimated that the US economy added 129,000 jobs in June, which represents a modest contraction from the 139,000 jobs added in May. The unemployment rate is expected to drop marginally to 4.1% after three consecutive months at 4.2%. The Fed have been increasingly focused on jobs data and are likely to step in should any significant cracks appear in the labour market.
US manufacturing PMIs will also be reported this week. Investors will be hoping for a seventh consecutive month above 50 as manufacturing activity continues to recover. A reading above 50 indicates that activity in the manufacturing sector is expanding from the month prior, whilst a reading below 50 indicates a contraction.
There are no significant data releases in the UK this week.
Upcoming Corporate Earnings Reports
Constellation Brands is the only US company of note to report earnings this week. Investors are interested in whether the alcoholic beverages company can meet or exceed analyst expectations of $3.29 EPS and revenue $2.56 billion in revenue for the quarter ending May. Management commentary on consumer trends will also be assessed, as well as any updates on tariff or pricing strategies, which have weighed on margins and sentiment in recent quarters.
There are no significant earnings reports in the UK this week.
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