☕ The Week That Was

Well, well, well—looks like the labor market just pulled a Taylor Swift and shook off all the bad blood. This week started with investors nervously biting their nails over Trump-Musk drama (think celebrity Twitter feud but with actual market consequences), only to end with Friday's jobs report dropping like a surprise album that everyone actually wanted. The S&P 500 finally broke back above 6,000 for the first time since February, while Bitcoin decided it was tired of being a wallflower and strutted back above $104K. Meanwhile, gold miners had their moment in the spotlight, leading sector performance like they were auditioning for the next Marvel movie. It was the kind of week that reminded everyone why they fell in love with markets in the first place—chaotic, dramatic, but ultimately rewarding for those who stuck around for the finale.

Top News Story of the Week

The May Jobs Report Becomes Market's Unexpected Hero

Friday's employment data turned into the week's main character faster than you can say "non-farm payr” The economy added 139,000 jobs in May, which might sound like small potatoes until you realize economists were only expecting 130,000. Sure, it was a slowdown from April's 177,000, but in this tariff-uncertain world, any number starting with "1" and followed by five digits had Wall Street throwing confetti. The report single-handedly transformed investor sentiment from "economic apocalypse incoming" to "maybe we can all just get along". Glen Smith from GDS Wealth Management summed it up perfectly: seeing six-figure job growth during "profound uncertainty" was like finding your keys right where you left them—obvious in hindsight, but pure relief in the moment. The Dow jumped 443 points, the S&P 500 punched through 6,000, and suddenly everyone remembered why they liked stocks again. It was the kind of data that made you wonder why we ever doubted the resilience of American workers—until next month's report, anyway.

📊 Weekly Scoreboard (Mon Close → Fri Close)

🖼️ Sector Heat Map (Top/Bottom 3)

🏆 Winner & Loser of the Week

• MVP: Gold Miners — These picks-and-shovels plays absolutely crushed it this week, with some ETFs posting gains over 50% YTD. Turns out when everything else feels uncertain, people still want to dig shiny things out of the ground. The Solactive Global Pure Gold Miners index led the charge like it was 1849 all over again.

• Faceplant: Energy Sector — Oil and gas stocks had the kind of week that makes you want to switch to electric everything. Down 13% on the six-month timeframe, the energy sector proved that even black gold can't always save your portfolio. Sometimes the earth just doesn't cooperate with your investment thesis.

📰 Top 10 Storylines

1. May Jobs Report Exceeds Expectations — 139K jobs added vs. 130K expected, proving the labor market still has some fight left. Markets rallied hard on the news, with the S&P 500 breaking above 6,000 for the first time since February.

2. Trump-Musk Feud Shows Signs of Cooling — After Thursday's dramatic selloff triggered by their public spat, Friday brought signs of de-escalation. Tesla recovered some losses as investors decided maybe the world's richest man and the President could play nice after all.

3. Bitcoin's $100K Support Holds Strong — BTC touched $100K early in the week but bounced back decisively, ending Friday above $104K. Corporate buyers like MicroStrategy announced plans to raise $1 billion for more Bitcoin purchases, because apparently, $100K is the new floor.

4. S&P 500 Reclaims 6,000 Territory — The index closed at 6,000.36 on Friday, marking its first trip above this psychological level since February 21. It was like watching your favorite team finally win the championship after a long drought.

5. Gold Miners Strike It Rich — Precious metals mining stocks absolutely exploded this week, with some ETFs posting gains over 50% YTD. When everything else feels uncertain, everyone wants to own companies that dig up shiny rocks.

6. Treasury Yields Take a Breather — The 10-year yield settled at 4.40%, down slightly for the week. Bond traders seemed to exhale as job growth stayed strong but not too strong—the Goldilocks scenario everyone's been hoping for.

7. Defense Stocks Go Ballistic — Defense and aerospace companies had a banner week, with some indexes up over 40%. Global tensions and military modernization continue to be growth drivers for companies making things that go boom.

8. European Banks Surge — EURO STOXX Banks jumped nearly 45% on the week. Apparently, European financial institutions decided they were tired of being the continent's ugly duckling.

9. Tech Sector Shows Resilience — Despite the Trump-Musk drama, technology stocks held up well. The Nasdaq managed to stay positive as investors remembered that innovation doesn't stop for Twitter feuds.

10. Crypto Corporates Double Down — Beyond MicroStrategy's $1 billion Bitcoin plan, Japan's Metaplanet boosted its Bitcoin target to 100,000 coins by 2026. Corporate FOMO is apparently alive and well in the digital asset space.

🔍 Macro & Money Flow Check

• Yield Curve: 10-yr at 4.40%, showing modest flattening as long-end rates stabilized.

• Credit Spreads: Investment grade spreads remained tight as risk appetite improved post-jobs data.

• Volatility: VIX cooled off from Thursday's Trump-Musk spike, ending the week in more reasonable territory.

• Sentiment: Risk-on mode returned Friday as employment data soothed recession fears and trade tensions appeared to ease.

🪙 Gold & Hard-Asset Recap

Gold had a split personality week—the metal itself dipped slightly to $3,361, down 0.49% Friday, but gold mining stocks went absolutely bonkers with gains over 50% YTD. It's like the difference between owning the Yankees and owning Yankee Stadium—sometimes you want the operators, not just the commodity. Silver joined the party with a 3.40% pop Friday, reminding everyone that it's gold's scrappy little sibling who sometimes shows up to steal the spotlight. The precious metals complex continues to benefit from global uncertainty, though traders seem more excited about the companies digging the stuff up than the shiny rocks themselves.

🏡 Real-Estate Roundup

Real estate had a quietly solid week as mortgage rates stabilized around current levels and REIT performance stayed in the green. The sector's 2.1% weighting in the S&P 500 posted a respectable +15.9% trailing 12-month performance, proving that even in a high-rate environment, people still need places to live and work. Utilities joined the real estate party with similar gains, because nothing says "boring but reliable" like infrastructure and property in uncertain times.

🌤️ Next Week's Teasers (Deep Dive On Monday Morning)

• Fed Watch: No major Fed speakers scheduled, but bond traders will be parsing every inflation whisper

• Mega-Cap Earnings: Earning season's mostly wrapped, but stragglers could still surprise

• Data Drop: Producer Price Index and Consumer Sentiment on deck

• Wildcard: Trump-China trade talks resuming Monday in London per latest reports

(We'll dissect these in tomorrow's Sunday Night Outlook.)

🍷 Wine & Dine

Last Friday's jobs report? Pair with a celebratory champagne and the satisfied feeling of being right about American resilience. Because sometimes the best trades are the ones where you just trust that people want to work and companies want to hire them.

✂️ Wrapping it Up

What a week to be alive and invested, folks. From Trump-Musk Twitter drama to Bitcoin finding its mojo again, this market served up more plot twists than a Marvel movie. The jobs report reminded everyone that beneath all the noise and political theater, the American economy is still chugging along like a reliable pickup truck—not flashy, but it gets the job done. Whether you're counting AI chips, gold nuggets, or just trying to figure out why defense stocks are suddenly the cool kids at the party, this week proved that momentum loves company and patience pays dividends. Refill that coffee mug—tomorrow night we chart the road ahead, and something tells me it's going to be just as wild as the road behind us.