United States
The S&P 500 ($7,483.24) advanced 1.76% for the week, closing near its high of $7,540.75. The Nasdaq ($25,832.67) outpaced the broader market with a 2.12% gain, while the Dow Jones ($52,900.07) climbed 1.97%. The Russell 2000 ($2,996.11) declined 0.46%, signalling weakness in small-cap equities during a week of broad-based large-cap strength.
Technology stocks dominated the weekly advance. Coinbase (COIN) surged 11.02% to $165.48 on cryptocurrency optimism tied to tokenization discussions. Apple (AAPL) gained 8.76% to $308.63, while Alphabet (GOOGL) added 6.67% to $359.91. Meta (META) rose 5.93% to $582.90, and Netflix (NFLX) increased 5.20% to $77.65, reflecting renewed investor appetite for mega-cap growth names.
Gold prices posted their first weekly gain in a month as investors trimmed expectations for Federal Reserve rate hikes. Geopolitical tensions in the Middle East—specifically Oman's diplomatic balancing act over Strait of Hormuz fees—created a potential blind spot for market participants. An extreme heat wave across the U.S. threatened power grids and July 4 travel, though equity markets absorbed the news without significant damage. Spotify took down 500,000 streams of a song following suspicious betting activity on prediction market Kalshi.
Italy
The FTSE MIB (€52,540.83) rallied 2.69% for the week, reaching €52,791.32 at its peak. Leonardo (LDO.MI) led the advance with a 12.24% jump to €51.70, driving a significant portion of the index's gains. UniCredit (UCG.MI) climbed 6.38% to €81.66, while Intesa Sanpaolo (ISP.MI) added 3.83% to €6.13. Stellantis (STLAM.MI) increased 3.35% to €5.05, rounding out the week's domestic movers.
Piazza Affari maintained a positive tone as European equities followed gains from Asian peers. Euro Area manufacturing and services PMI data surpassed forecasts, with Germany's June services PMI topping estimates. Dividend calendars for Euronext Growth Milan continued to occupy investor attention.
Week ahead
The U.S. equity market is closed Friday, July 4, for Independence Day. Earnings season continues with select technology and financial reports; macro releases remain focused on employment data and inflation metrics.