Weekly Market Review - 14-07-2025
- Anthony Walters
- Jul 14
- 3 min read
Updated: Jul 15
In this week’s Weekly Market Review, markets remained steady despite renewed trade tariff headlines, with the FTSE 100 leading gains. We take a closer look at unexpected UK economic data, surging commodity prices, and updates from central banks and global leaders. Plus, we explore inflation expectations and what to watch as major economies prepare to release their latest figures.
Market Recap.
Markets remain unfazed by new announcements of US trade tariffs, taking a ‘wait and see’ approach. It was the FTSE 100 ETF (1.60%) that made the most ground, followed by the Nasdaq 100 ETF, which added 1.26%.
The S&P 500 ETF (1.24%) and the Dow Jones Industrial Average ETF (0.62%) both made gains.
News.
Britain's economy contracted unexpectedly for a second month running in May. Official data released Friday showed gross domestic product fell 0.1% after a 0.3% drop in April.
The country's services sector saw a small amount of growth. But falls in industrial output and construction dragged down overall output. The reading poses downside risks to expectations the economy grew in the second quarter after a surge early in the year.
It also raised market expectations the Bank of England will cut interest rates next month.
Inflation.
Americans' outlook on inflation was little changed last month as households upgraded their views on the state of their finances and ability to get credit, according to a report released by the New York Federal Reserve.
As of June, inflation one year from now was expected to be 3.00%, down from the expected 3.20% in May. The outlooks at the three- and five-year-ahead horizons were unchanged at 3.00% and 2.60%, respectively, according to the latest New York Fed Survey of Consumer Expectations.
Central Banks.
The Bank of England’s Financial Policy Committee (FPC) meeting minutes showed that while the economic outlook remains stable, global tensions are keeping policymakers on alert.
The Committee pointed to ongoing geopolitical strains and growing fragmentation in global trade as key risks that could rattle financial markets. On the housing front, the Committee backed efforts to make home ownership more attainable. It recommended tweaks to mortgage lending rules—specifically the loan-to-income flow limit—to better reflect how lenders assess risk.
Commodities.
Copper surged to a record high, gaining 11.16% last week in one of the largest price increases seen since the 1980s. This came as the US proposed a 50% tariff on imported Copper which Morgan Stanley analysts said would support higher copper prices in the US, but they noted this would likely be a short-term rise as the domestic inventory grows.
ESG.
Google has announced a significant achievement, reducing carbon emissions from its data centres by 12% in 2024, despite significantly higher energy usage.
Despite the company’s success in addressing its data centre emissions, however, the report also indicated that Google’s overall carbon footprint continued to grow in 2024, driven by a sharp increase in emissions from its supply chain, with Scope 3 emissions rising by more than 20% in the year.
Google’s environmental targets include 2030 goals to reach net zero emissions across its operations and value chain.
Geopolitics.
US President Donald Trump has said the United States would supply weapons to Ukraine via NATO and that he would make a "major statement" on Russia this week.
In recent days, Trump has expressed frustration with Russian President Vladimir Putin over the lack of progress towards ending the war sparked by Russia's full-scale invasion of Ukraine in February 2022.
Week Ahead.
This week is the one of inflation, with the US, UK and EU all reporting their latest inflation data.
On Tuesday, US CPI (Consumer Price Index) is expected to rise from 2.40% to 2.60%, while on Wednesday, UK CPI is forecast to remain at 3.40%. And on Thursday, EU CPI is forecast to remain at 2.00%, the lowest of the three major economies.
View this week's ESG in 5 for more updates here
Author.
Sources.
Market recap Data sourced from FE FundInfo & Koyfin. ETFs quoted: iShares Core FTSE 100 UCITS ETF, iShares Core S&P 500 UCITS ETF, iShares Nasdaq 100 UCITS ETF (quoted in Pounds Sterling).
News UK economy shrinks again in May, raising new worries over outlook, by Reuters/ Yahoo Finance, 11/07/2025
Inflation US consumers happier about finances, expect stable inflation, New York Fed says, by Michael Derby, Yahoo Finance/Reuters, 08/07/2025
Central Banks Record of the Financial Policy Committee meeting on 27 June 2025, bankofengland.co.uk, 09/07/2025
ESG Google Reduces Data Center Emissions, but Supply Chain Continues to Drive Carbon Footprint Higher, by Mark Segal, ESG Today, 10/07/25
Geopolitics Trump says US to supply weapons to Ukraine via NATO, By Kanishka Singh, Frank Jack Daniel and Angelo Amante, Reuters, 11/07/2025
Commodities Koyfin and Copper Prices Surge To Record High In Largest Increase Since ‘80s—Here’s Why, by Ty Roush, Forbes, 08/07/25
Week ahead Nathan Sweeney, Marlborough, 07/07/2025
