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Market Recap
WEEK OF OCT. 6 THROUGH OCT. 10, 2025
The S&P 500 fell 2.4% last week amid a fresh round of tariff worries. The index ended Friday's session at 6,552.51 and is now down 2% for October. It's still solidly in positive territory for 2025 with a gain of 11%.
Coming into Friday's session the S&P 500 had been up on the week, having just reached a new intraday high on Thursday of 6,764.58. Gains were erased on Friday after President Donald Trump said he is considering "a massive increase" in tariffs on Chinese products coming into the US. Trump also indicated he might call off a planned meeting set for later this month with Chinese President Xi Jinping.
All but two sectors in the S&P 500 posted weekly declines. The energy sector had the largest weekly drop, falling 4%, followed by declines of 3.3% each in consumer discretionary and real estate. Materials lost 3.1% while financials and industrials shed almost 3% each. Technology and communication services fell more than 2% each while health care was down 1.9%.
The energy sector's drop came as crude oil futures also fell on the week. Every component of the sector fell, led by an 11% loss in shares of APA Corp. (APA) and a 9.6% decline in shares of Halliburton (HAL).
Homebuilder D.R. Horton (DHI) had the hardest-hit stock in consumer discretionary, falling 13%. Evercore ISI downgraded its investment rating on the stock to in line from outperform and reduced its price target to $169 each from $185.
In real estate, Alexandria Real Estate Equities (ARE) and CoStar Group (CSGP)led the declines, shedding 12% and 11%, respectively.
The two sectors that managed to stay in positive weekly territory were utilities, up 1.4%, and consumer staples, up 0.6%.
NextEra Energy (NEE) was the best performer in utilities, rising 4.1%. The stock received price target increases from analysts at Seaport Global and HSBC this week.
The consumer staples sector, meanwhile, was boosted by a 5.7% jump in the shares of PepsiCo (PEP). The beverage company reported better-than-expected fiscal third-quarter results and issued an improved full-year earnings outlook amid easing foreign-exchange headwinds.
Earnings season is set to ramp up this week, especially in the financial sector. Reports are expected from companies including JPMorgan Chase (JPM), Johnson & Johnson (JNJN), Wells Fargo (WFC), Goldman Sachs (GS), BlackRock (BLK), Citigroup (C), Bank of America (BAC), Morgan Stanley (MS), Abbott Laboratories (ABT), Charles Schwab (SCHW) and American Express (AXP).
Economic data may be light if the US government shutdown continues. The shutdown has caused a delay in closely watched government data releases including the September jobs report.
