Nvidia and Apple Fuel Record Tech Rally

Nvidia and Apple Fuel Record Tech Rally

The major markets bounced back this week, powered by buy-the-dip momentum, strong earnings, and a surge in mega-cap tech. The S&P 500 rose 2.4%, just shy of a new record, while the Nasdaq jumped 3.9% to hit an all-time high.

Apple led the charge with an 8.4% gain after announcing a $100 billion U.S. manufacturing boost. Nvidia reached new all-time highs after the Trump administration made a special carve-out for chip makers who would have a focus on domestic manufacturing.

This fueled gains in the information technology sector, which topped the charts last week. The sectors were generally positive with only energy, health care, and real estate closing lower, but all under a percentage loss.

Major Markets		YTD as of 08/15/2025
	Nasdaq
	Dow Jones Industrial
	S&P 500
	MSCI World
	MSCI EM
	Russell 2000
	Bar US Agg Bnd

S&P Sectors

YTD as of 08/15/2025

Comm. Services

Cons. Discretionary

Cons. Staples

Energy

Financials

Health Care

Industrials

Info. Technology

Materials

Real Estate

Utilities

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In the bond market, yields ticked higher with the 10-year closing up to 4.27% as Fed officials signaled no near-term rate cuts. Meanwhile, Fed leadership chatter picked up, with Christopher Waller seen as a top candidate for the new Chair.

https://www.apple.com/newsroom/2025/08/apple-increases-us-commitment-to-600-billion-usd-announces-ambitious-program

https://www.axios.com/2025/08/06/trump-semiconductor-chip-tariffs

https://www.cnbc.com/2025/08/07/prediction-markets-have-a-new-favorite-for-the-next-fed-chair-christopher-waller.html

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The MSCI World Index, which is part of The Modern Index Strategy, is a broad global equity benchmark that represents large and mid-cap equity performance across 23 developed markets countries. It covers approximately 85% of the free float-adjusted market capitalization in each country and MSCI World benchmark does not offer exposure to emerging markets.

The MSCI Emerging Markets (EM) Index is designed to represent the performance of large- and mid-cap securities in 24 Emerging Markets countries of the Americas, Europe, the Middle East, Africa and Asia. As of December 2017, it had more than 830 constituents and covered approximately 85% of the free float-adjusted market capitalization in each country. https://www.msci.com/

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Weekly Market Commentary