Evening Market Recap

Sophia Reyes · June 30, 2025 7:08 PM

Market Snapshot for Monday 6-30-2025

Dow Jones – 44,094.77 (+0.63%)
NASDAQ – 20,369.73 (+0.47%)
S&P 500 – 6,204.95 (+0.52%)

Market Performance

U.S. stocks rallied to fresh record highs on Monday, capping off one of the most volatile first halves of any year in recent memory, as signs of progress in trade negotiations boosted investor sentiment.

The Dow Jones Industrial Average (^DJI) advanced more than 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) each gained roughly 0.5%. Both indices closed at new all-time highs, with the S&P 500 finishing above the 6,200 level for the first time. Tech heavyweights Nvidia (NVDA) and Meta (META) also hit record highs, helping to drive the rally.

Markets found support after Canada dropped its proposed 3.0% digital services tax targeting foreign and domestic tech companies. The reversal came after President Trump suspended U.S.-Canada trade talks on Friday in response to the measure, signaling a possible thaw in trade tensions.

Technology and financials led the gains, while consumer discretionary and energy stocks underperformed. Overseas, Asia ended mixed after China’s manufacturing PMI edged higher in June, though it remained in contraction for a third consecutive month. European markets declined overall, despite German inflation cooling to 2.0% year-over-year—right in line with the European Central Bank’s target.

Economic Takeaways –

• In currency markets, the U.S. dollar fell against major global currencies.
• The 10-year Treasury yield fell about 5 basis points to 4.23%.
• Bloomberg reported that Trump threatened a 25% tariff on Japanese cars and that France is confident the European Union can make a deal with the U.S. before the July 9 deadline.
• The administration has indicated it might extend its July 9 deadline for countries negotiating “in good faith,” but that’s a judgment call and investors have little insight into negotiations. “
• Recent data suggest a slowdown in growth following the pre-tariff surge in spending, as reflected by the Atlanta Fed’s GDPNow model, which lowered its estimate for second-quarter GDP growth to 2.9% on Friday, down from 3.4%.
• The Senate is moving towards a final vote on the “One Big Beautiful Bill.”
• Despite broader market gains, the Cboe Volatility Index (VIX) rose nearly 5%, signaling increased uncertainty. Typically, a rising VIX alongside climbing stock prices can foreshadow a pullback.
• As of early Monday, the CME FedWatch Tool placed the odds of a July interest rate cut at 21%, while the chance of at least one cut by September stood at 93%.
• With one trading day left in June, the S&P 500 is up 4.4% for the month, the Nasdaq.

Gold –

• Spot gold rose 0.6% to $3,293.55 per ounce as of 2:00 p.m. EDT (1800 GMT) after reaching its lowest point since May 29^th.

Oil –

• WTI crude prices declined, pressured by easing geopolitical tensions in the Middle East and expectations of increased output, as OPEC+ prepares to meet on July 6.
• Global benchmark Brent futures finished down 16 cents or 0.2% to $67.61 a barrel.
• West Texas Intermediate crude finished down 41 cents or 0.6% to $65.11 a barrel on the New York Mercantile Exchange.

Crypto –

• The price of Bitcoin has stabilized around $107,000.
• Bitcoin treasury company Strategy has acquired another 4,980 bitcoin, taking its total holdings to 597,325 bitcoin.

Robinhood Shares Surge to Record High on Tokenized Stock Trading Launch

Robinhood (HOOD) shares soared over 11% on Monday, reaching an all-time high following the company’s announcement of a major expansion into tokenized stock trading across the European Union.

The trading platform revealed it has introduced blockchain-based trading for more than 200 U.S. stocks and ETFs, allowing European users to buy and sell commission-free tokens around the clock, five days a week. This marks a significant shift for Robinhood’s EU app, which is evolving from a crypto-only platform into a more comprehensive investment offering.

Initially, stock tokens will be issued on the Arbitrum blockchain, with future transactions to be supported by Robinhood’s own layer-two blockchain—currently in development—which will eventually enable 24/7 trading.

Robinhood co-founder and CEO Vlad Tenev is scheduled to appear live on Yahoo Finance at 3:30 p.m. ET today to share further insights into the rollout.

Crypto’s Resurgence – The Biggest Winners This Year

The first half of 2025 marked a powerful resurgence for the cryptocurrency industry.

With President Trump’s pro-crypto stance, the appointment of a new SEC chair, and even the first couple’s own controversial coins, the momentum helped drive bitcoin to record highs near $112,000.

Yahoo Finance’s Ines Ferré reports:

Although a sharp sell-off followed Trump’s April 2 “Liberation Day” tariffs and briefly dampened enthusiasm, crypto rebounded strongly. As June wraps with equity markets at all-time highs, digital assets have reclaimed their position as a top-performing investment class.

So far this year, bitcoin (BTC=F) has climbed 14%, outperforming the S&P 500’s (^GSPC) 5% rise. Bitcoin’s dominance — its share of the total cryptocurrency market — has increased to 64%, as many alternative coins have struggled to keep pace.

Meanwhile, crypto trading platform Coinbase (COIN) has surged over 40% year to date, while Robinhood (HOOD) has skyrocketed more than 130% in the same period.

Bloomberg reported: On the face of it, 2025 looks like a banner year for crypto: Bitcoin hitting a record, an industry-boosting US president whose family is venturing headlong into the sector, and key legislation widely expected to be passed by Congress.

Morgan Stanley Stands by Nvidia Despite Long-Term Supply Concerns

Morgan Stanley (MS) reiterated its bullish stance on Nvidia (NVDA) in a Sunday note to clients, saying it is “looking through” mounting concerns about potential supply chain bottlenecks that could slow the chipmaker’s ability to meet surging demand for its GPUs.

Following meetings with industry sources in Taiwan and Beijing, analyst Joseph Moore acknowledged that Nvidia’s supply outlook appears “strong near term” but “mixed longer term.”

“Near-term data points from several supply chain participants suggest strength in AI, but significant skepticism about 2026 remains,” Moore wrote. “That skepticism is driven by the same concerns we hear about from US investors — chip production ahead of various supply bottlenecks will lead to excess inventory by year end.”

Still, Moore said the firm remains confident in Nvidia’s outlook: “The reason we are looking through these concerns is that our contacts point to very strong demand for all Blackwell form factors, and supply bottlenecks across racks and power management easing materially.” Moore continues to rate Nvidia as his top chip stock pick.

In May, The Financial Times reported that Nvidia’s suppliers had resolved technical setbacks that had delayed deliveries of its Blackwell AI servers and posed a risk to meeting the company’s full-year sales targets.

Nvidia shares recently hit a new all-time high, though the stock slipped slightly in early trading Monday.

Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

• Newegg Commerce, Inc. (NEGG) moved higher 34.44%
• Burford Capital Limited (BUR) soared by 21.98%
• Magnite, Inc. (MGNI) exploded 14.31%
• Robinhood Markets, Inc. (HOOD) surged 12.77%
• Joby Aviation, Inc. (JOBY) rose 11.76%
• GMS Inc. (GMS) moved up 11.73%
• Hewlett Packard Enterprises (HPE) rose 11.08%
• Hims & Hers Health, Inc. (HIMS) spiked 10.87%
• Quantum Computing, Inc. (QUBT) moved up 9.16%
• SoundHound AI, Inc. (SOUN) surged 8.81%

Top Losers

The top US stock losers today, based on percentage change included:

• Chemed Corp. (CHE) moved lower 12.95%
• Nextrackerm, Inc. (NXT) moved down 6.77%
• YPF Sociedad Anonima (YPF) sank 5.64%
• BJ’s Wholesale Club Holdings, Inc. (BJ) fell 5.62%
• AST SpaceMobile, Inc. (ASTS) was down 5.33%
• Akero Therapeutics, Inc. (AKRO) moved lower 5.04%
• Tempus AI, Inc. (TEM) sank 4.48%
• TAL Education Group (TAL) dragged 4.40%
• KE Holdings, Inc. (BEKE) moved down 4.32%
• Nuvalent, Inc. (NUVL) slumped 4.24%

Notables

• Apple (AAPL) lost its bid to dismiss the DOJ’s lawsuit.

  TBNB Paribas downgraded Alphabet stock (GOOG) (GOOGL) to Neutral from Buy on Monday. “Google has come a long way since then in developing its Gemini offering, culminating in the recent successful launch of Gemini 2.5 pro model,” analyst Stefan Slowinski wrote. “However, monetisation of Gemini remains limited for now.”

• Hewlett Packard Enterprise stock (HPE) jumped more than 13% Monday morning following news over the weekend that the company had settled a case with the US Department of Justice.
• Oracle (ORCL) stock soared after the software giant disclosed in a filing to the Securities and Exchange Commission that it had signed new cloud services agreements.
• Solar stocks seesawed in premarket trading Monday following reports that the Senate’s draft version of the tax and spending bill includes significant cuts to wind and solar tax credits. Shares of NextEra Energy (NEE) dropped 4% while Enphase Energy (ENPH) stock fell 2.6%. The Invesco Solar ETF (TAN) declined 1.5%.
• INmune Bio (INMB) shares plummeted 60% in premarket trading Monday after the company announced that its experimental drug, XPro, did not improve cognitive function in patients with early-stage Alzheimer’s during a mid-stage trial.
• Disney stock (DIS) gained roughly 2% in premarket trading Monday following an upgrade from Jefferies analyst James Heaney, who highlighted Disney’s cruise line, content lineup, and parks division as key drivers for a potential summer rally in the shares.

What to Watch Ahead

Looking ahead, the spotlight this week will be on the June jobs report, set for release on Thursday, as growing optimism builds around the possibility of the Federal Reserve cutting interest rates in the near future.

Trading activity will be shortened, with markets closing early at 1 p.m. ET on Thursday and remaining closed on Friday in observance of the Fourth of July holiday.