Weekly Market Update - April 11th 2025

Listed below are highlights from last week:

• The week opened with equities sharply lower, as negative sentiment intensified ahead of Wednesday’s implementation of the Trump administration’s latest round of tariffs.

• U.S. stocks closed higher after a volatile week due to headlines continuing to be dominated by tariff talk

• Most global equity markets ended a volatile week on a mixed note

  • Europe, Japan, China and the U.K. ended the week delivering big gains due to Trumps announcement of a 90-day halt on tariffs

• Wednesday Trump announced that he was implementing a 90-day pause on the higher reciprocal tariffs for most countries to allow time for negotiations.

• The news sent stocks rocketing higher, with the Nasdaq Composite gaining over 12% and logging its second-best day on record.

• The Trump administration excluded China from the 90-day pause.

• Instead, he announced several increases to tariffs on Chinese goods throughout the week (up to 145%), while China responded with several increases to levies on U.S. imports (up to 125%).

• Stocks gave back some gains on Thursday. The S&P 500 Index finished up 5.70% for the week, while the Nasdaq Composite closed 7.29% higher.

• The volatility and uncertainty around global trade during the week weighed on U.S. Treasuries, which generated negative returns as yields increased across most maturities.

• The dollar index hit the weakest level since July 2023.

• Sector Perspective

  • Information technology and industrials ended with strong gains

  • Energy sector declined

• Oil and natural gas prices fell on reports of rising inventory along with worries about the global market and a recession

• Copper prices jumped

• Gold and silver prices continue to rise (mainly due to risk-averse investors)

Information provided by Mackenzie Investments

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