ETF Tracker Newsletter For July 18, 2025
ETF Tracker StatSheet
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CRYPTO GOES MAINSTREAM AS BITCOIN HOLDS STEADY IN QUIET SESSION
- Moving the market
The S&P 500 fired out of the gate, hitting a fresh record right after the opening bell—only to lose steam almost immediately. The major indexes slipped into the red not long after and spent the rest of the day glued to their flat lines, wrapping up in a pretty bland fashion.
On the bright side, some of the big tech names—Nvidia, Tesla, Alphabet, and Amazon—logged early gains. Over in earnings land, both Pepsi and United Airlines kept their rallies going after dropping numbers that topped Wall Street’s expectations.
Right now, plenty of traders are in “risk on” mode, with the hope that a Fed rate cut might be around the corner. Here’s the twist: historically, strong bull markets actually do better without rate cuts. In fact, the very first rate cut can sometimes signal a top, not a new rally. Still, with inflation cooling off and GDP forecasts holding up, maybe this time will buck the trend.
After a sluggish start to July, so-called “soft” data (like sentiment and expectations) is catching up to the more concrete “hard” numbers, fueling optimism. The Citi Economic Surprise Index even points to things picking up, even though today’s action on Wall Street was mostly sideways.
For the week, the Mag7 stocks easily outpaced the rest of the S&P 500, helped along by a relentless squeeze in the most shorted names. Bond yields were all over the place, the dollar ended stronger, and gold managed a move higher.
Bitcoin, meanwhile, took a nap after Monday’s surge and ended the week unchanged.
It’s worth pointing out that even the trading community is catching on: crypto isn’t just a fringe asset anymore—it’s quickly becoming a staple for mainstream investors.
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