‘Magnificent Seven’ Drive Stocks to Historic Rally: Markets Wrap
(Bloomberg) — Wall Street’s blistering bull market got fresh fuel at end of a month that’s lived up to its volatile reputation, with stocks climbing as the artificial-intelligence euphoria shows no signs of abating.
Following a brief pause in the S&P 500’s $17 trillion rally, the gauge rebounded on solid earnings from giants Apple Inc. and Amazon.com Inc. The bond market steadied after a post-Federal Reserve rout. The dollar edged up. Oil jumped on reports that the US plans to strike military targets in OPEC producer Venezuela.
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From geopolitical risks to a flare-up in trade worries, a US government shutdown and elevated valuations, equity traders had a lot to digest this month. Ultimately what’s prevailing are the growing bets on the strength of Corporate America and optimism that Fed policy easing will keep momentum going for earnings.
Since the tariff-fueled meltdown in April, the S&P 500 has surged almost 40% and is now on pace for its longest streak of monthly gains since 2021. The superlative is even better for the Nasdaq 100: a seven-month surge that’s set to be the longest in eight years, buoyed by big tech’s pristine balance-sheets and the bullish outlook for AI.
The S&P 500 rose 0.5%. A gauge of the Magnificent Seven megacaps climbed 1.5%, poised for its longest monthly run since 2023. The group has surged almost 300% since the start of the AI frenzy nearly three years ago.
The yield on 10-year Treasuries two basis points to 4.08%. The Bloomberg Dollar Spot Index rose 0.1%.
Some of the main moves in markets:
Stocks
The S&P 500 rose 0.5% as of 10:08 a.m. New York time The Nasdaq 100 rose 0.9% The Dow Jones Industrial Average was little changed The Stoxx Europe 600 fell 0.6% The MSCI World Index rose 0.3% Bloomberg Magnificent 7 Total Return Index rose 1.5% The Russell 2000 Index rose 0.3% Currencies
The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.3% to $1.1535 The British pound fell 0.3% to $1.3115 The Japanese yen was little changed at 154.02 per dollar Cryptocurrencies
Bitcoin rose 2.5% to $110,246.69 Ether rose 3% to $3,867.74 Bonds
The yield on 10-year Treasuries declined two basis points to 4.08% Germany’s 10-year yield was little changed at 2.64% Britain’s 10-year yield declined one basis point to 4.41% The yield on 2-year Treasuries declined one basis point to 3.60% The yield on 30-year Treasuries was little changed at 4.65% Commodities
West Texas Intermediate crude rose 0.5% to $60.89 a barrel Spot gold was little changed ©2025 Bloomberg L.P.
