Weekly Global Markets Watch

Global markets advanced this week, driven primarily by a historic Magnificent Seven earnings season. The S&P 500 gained 0.9% and the Nasdaq surged to a fresh all-time high at 25,114, while the Dow slipped modestly. Alphabet's near-10% single-day surge on strong cloud earnings catalyzed the broader tech rally.

In commodities, Brent crude held near $105 per barrel amid ongoing Strait of Hormuz tensions. Energy was the weakest sector as ceasefire fragility limited any diplomatic relief. Conversely, Bitcoin climbed near $80,000 by Friday, and technology led broader market gains alongside communication services.

Geopolitically, Trump's "Project Freedom" naval escort mission launched Monday, immediately testing the fragile US-Iran ceasefire. Iranian forces fired on US ships and UAE targets, though no formal ceasefire termination was declared. Economically, the Fed held rates at 3.50–3.75% amid unprecedented four-way dissent, pushing 30-year Treasury yields briefly to 5%.

Big Tech dominated the corporate landscape. Alphabet and Apple surged on blowout earnings and strong cloud and iPhone demand, while Meta tumbled roughly 10% on sharply higher capex guidance. Meanwhile, Microsoft slipped despite beating on Azure growth, as investors focused on its $190 billion capital expenditure plan for 2026.