Market Snapshot for Friday 5/16/2025
- S&P 500 – 5,958.38 (+0.70%)
- Dow Jones Industrial Average – 42,654.74 (+0.78%)
- NASDAQ – 19,211.10 (+0.52%)
Market Performance
Every major index closed higher on Friday, notching weekly wins. Easing tariff concerns came in for the win despite consumer confidence sinking and President Trump’s sweeping tax and spending bill, which failed to clear a key hurdle. The S&P 500 extended gains for a fifth day in a row.
Economic Takeaways
- The yield on the 10-year note ended May 16, 2025, at 4.43%. Meanwhile, the 2-year note ended at 3.98% and the 30-year note ended at 4.89%.
- Bitcoin held firmly above the $100K mark and hovered around $104,000.
- Gold dropped over 2% on Friday and is now down over 4% for the week as trade war worries dissipate.
- WTI crude oil closed at $62.49 per barrel. Brent crude closed at $65.28 per barrel.
- The University of Michigan’s Consumer Sentiment Index experienced a slight decrease in May, falling to 50.80. This follows a drop from 52.20 in April. While the index dipped slightly, year-ahead inflation expectations surged to 7.3%.
- Japan’s economy shrank for the first time in a year and at a faster pace than expected according to data for the March quarter.
- The UK economy grew at the fastest pace in a year between January and March. The Office for National Statistics said gross domestic product (GDP) rose by 0.7% in the quarter, beating City predictions of a 0.6% rise.
- Moody’s downgraded its credit rating of the United States by a notch to “Aa1” from “Aaa,” citing rising debt and interest “that are significantly higher than similarly rated sovereigns.”
Jamie Dimon Issued a Dire Warning About a Recession
In a new Bloomberg Television interview, JPMorgan Chase chief executive Jamie Dimon says that he still would not rule out the possibility of the US entering an economic recession.
According to Dimon, mounting uncertainty around tariffs and geopolitical tensions could increase inflation and slow down the economy.
“I’m going to defer to our economists who give [a recession] about a 50% chance…
If there’s a recession, I don’t know how big it will be or how long it will last. Hopefully we’ll avoid it, but I wouldn’t take it off the table at this point.”
“Markets are quite unpredictable. I think there’s a lot of uncertainty out there that you can’t discount. You know, war in Ukraine, terror in the Middle East. You know, Iran. You know, huge deficits, our tax bill, which I would like to see a good tax bill pass, the tariffs, the reaction of countries to tariffs.”
In regard to recent developments around President Donald Trump’s trade war, Dimon said:
“I think it’s the right thing to do, is to back off some of that stuff, to engage in conversation. I’m grateful they did the US-UK deal. You know, it’s an agreement in principle so there’s a lot of uncertainty still, and there’s a lot of uncertainty still in the China thing, but at least we started, and obviously it calms down the markets.”
U.S. Credit Rating Gets a Downgrade
Nobody likes a ding to their credit score, not even the U.S.
Moody’s on Friday downgraded its credit rating of the United States by a notch to “Aa1” from “Aaa”, citing rising debt and interest “that are significantly higher than similarly rated sovereigns.”
The rating agency had been the last among major ratings agencies to keep a top, triple-A rating for U.S. sovereign debt.
“Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs,” Moody’s said on Friday, as it changed its outlook on the U.S. to “stable” from “negative.”
Top Gainers
Acadia Pharmaceuticals (ACAD) + 4.66 (26.48%)
Tonix Pharmaceuticals (TNXP) + 4.90 (21.21%)
Pony AI, Inc. (PONY) + 2.26 (13.94%)
D-Wave Quantum, Inc. (QBTS) + 1.22 (11.06%)
Bitdeer Technologies Group (BTDR) + 1.46 (10.63%)
Hims & Hers Health, Inc. (HIMS) + 6.07 (10.36%)
Archer Aviation, Inc. (ACHR) + 1.11 (9.11%)
Coinbase Global, Inc. (COIN) + 22.02 (9.01%)
Bilibili, Inc. (BILI) + 1.19 (6.71%)
UnitedHealth Group Inc. (UNH) + 17.56 (6.40%)
Top Losers
Globan S.A. (GLOB) – 31.37 (23.61%)
Newegg Commerce, Inc. (NEGG) – 1.22 (16.44%)
Doximity, Inc. (DOCS) – 5.89 (10.08%)
Uranium Energy Corp. (UEC) – 0.33 (5.87%)
Applied Materials, Inc. (AMAT) – 9.18 (5.25%)
First Solar, Inc. (FSLR) – 7.72 (4.15%)
RH (RH) – 8.07 (3.70%)
NexGen Energy, Ltd. (NXE) – 0.16 (2.85%)
Novo Nordisk A/S (NVO) – 1.09 (2.73%)
NetEase, Inc. (NTES) – 3.18 (2.59%)
Notables
- AI chip giant Nvidia (NVDA) saw its shares go back to positive territory for the year.
- Tesla stock (TSLA) saw its fourth straight week of gains, recouping a large chunk of losses from a recent low on April 21.
- Novo Nordisk (NVO) announced that CEO Lars Fruergaard Jørgensen would leave his post due to declining share price and increased rivalry with Eli Lilly (LLY) in the obesity drug market. Novo Nordisk stock is down 22% year to date.
- Charter Communications (CHTR) shares soared over 6% premarket Friday after the mass media company said it would merge with Cox Communications in a $21.9 billion deal, uniting two of the biggest cable providers in the US.
- Take-Two Interactive (TTWO) dropped 2%. While its fourth quarter revenue beat estimates, its full-year earnings forecast didn’t meet expectations amid a delay to “Grand Theft Auto VI.”
- Cava Group (CAVA) stock fell 3% in premarket trading on Friday after topping Q1 revenue estimates.
Pump Radar
Stock Alerts
