Welcome to your weekly market report, where we dissect last week's thrilling ride and set our sights on the week ahead. If last week felt like a high-octane race for records, this week promises a more measured, tactical approach. The global economic stage is set with pivotal events that could moderate the gains we just saw, especially in the US. Let's dive in.
Last Week's Recap: AI and a Tale of Two Markets
USA Markets
Record highs on AI buzz; caution ahead from Fed signals.
Middle East
Stable gains and resilience; watching global cues this week.
India Markets
Volatility persists; performance tied to international sentiment.
Crypto
Turbulent swings last week; innovation buzz from Korea awaits.
Last week (September 15-21, 2025) was a story of AI-driven exuberance in the West and mixed volatility in the East. US indices, particularly the S&P 500 and the Nasdaq, hit historic highs, fueled by a key Federal Reserve rate cut and a landmark semiconductor deal.
In the USA, the S&P 500 started the week with a historic close above 6,600 and never looked back, finishing at 6,664.36 on the 19th—a net weekly gain reflecting robust investor confidence in tech and AI sectors. The Nasdaq mirrored this, starting at 22,348.75 and climbing to 22,631.48 by week's end, with 156 new highs recorded, driven by AI chip advancements and economic data. Focusing on AI and semiconductors, Nvidia's stock opened the week strong at $175.67, dipped to a low close of $170.29 on the 17th amid broader tech adjustments, but recovered to $176.67 by the 19th, with high trading volumes exceeding 236 million shares on the final day. Major news included Nvidia's $5 billion investment in Intel, announced mid-week, aiming to co-develop AI infrastructure and PCs, which propelled Intel to soar and concentrated bets on chip ETFs. AMD also benefited from the sector boom, with predictions of strong growth in AI semiconductors contrasting Nvidia's dominance. Analysts boosted S&P 500 targets, expecting 9.1% earnings growth in 2025, underscoring the AI-driven rally.
In the Middle East, resilience was evident as Gulf markets firmed amid bargain hunting. UAE's ADX rose 0.29% to 10,128 points on September 19, supported by gains in stocks like Emirates NBD (up 2.4%), while DFM ended a difficult week positively with a 1.5% gain on the 19th, led by Union Properties (up over 6%) and Emaar entities. KSA's Tadawul showed stability near two-year lows but with upward momentum from penny stocks and non-oil growth hitting six-month highs in August, boosting investor confidence. Notable transactions included Mubadala raising Dh3.15 billion by selling a 7.55% stake in Du on September 15.
India's markets displayed volatility: The Sensex snapped a five-day winning streak on September 15, closing down 0.15% at 81,785.74 after hitting a low of 81,744.70, dragged by auto and IT sectors. It rebounded 0.73% to 82,380.69 on the 16th, but broke the streak again on the 19th, settling 0.47% lower amid broader drags. Nifty followed suit, dipping 0.18% to 25,069.20 on the 15th, rising to 25,261.40 on the 16th, and fluctuating around 25,000-25,300 levels, with realty gaining while auto lagged.
Crypto markets were turbulent: Bitcoin dropped 0.4% early to $105,250 on September 15 amid a $4.15 trillion market cap decline, but jumped later, hitting $124,000 before retreating due to macro signals and ETF inflows. Ethereum fell 0.2% to $4,504 but broke out to $4,953, with mixed altcoin performances like XRP down 0.4% to $3.02. September's historical volatility persisted, influenced by Fed pivot hints and liquidity events.
USA Stock Recap: Last Week's Daily Closes
| Date | S&P 500 Close | Nasdaq Close | Nvidia Close |
|---|---|---|---|
| Sept 15 | 6,615.28 | 22,348.75 | 177.75 |
| Sept 16 | 6,606.76 | 22,333.96 | 174.88 |
| Sept 17 | 6,600.35 | 22,261.33 | 170.29 |
| Sept 18 | 6,631.96 | 22,470.72 | 176.24 |
| Sept 19 | 6,664.36 | 22,631.48 | 176.67 |
This Week's Horizon: Key Events to Watch
This week is all about economic data and central bank commentary. Market direction will be heavily influenced by signals on future interest rate paths and inflation. While the US calendar is packed, the crypto world turns its attention to Seoul for a major industry conference.
Fed Speeches
Speeches by Fed officials on September 22 could sway rate expectations. A hawkish tone could temper the AI rally, while a dovish stance may provide a new boost.
Korea Blockchain Week
Running all week in Seoul, this major event is expected to drive innovation talks and could generate significant buzz, potentially pushing crypto prices higher.
Global Economic Data
Watch for China's Loan Prime Rate announcement and Euro Area Consumer Confidence data, which could cause ripple effects across all major markets.
Potential Impacts
Expect heightened volatility in USA markets, steady gains in the Middle East if global data supports, and a continuation of mixed sessions in India, with crypto sentiment hinging on conference buzz.
Detailed Market Report
Last week in the markets (September 15-21, 2025) was characterized by a surge in USA indices, with the S&P 500 achieving a historic close above 6,600 points on September 15 at 6,615.28, followed by minor dips mid-week to 6,600.35 on the 17th, before rebounding to end at 6,664.36 on the 19th—a net weekly gain reflecting robust investor confidence in tech and AI sectors. The Nasdaq mirrored this, starting at 22,348.75 and climbing to 22,631.48 by week's end, with 156 new highs recorded, driven by AI chip advancements and economic data. Focusing on AI and semiconductors, Nvidia's stock opened the week strong at $175.67, dipped to a low close of $170.29 on the 17th amid broader tech adjustments, but recovered to $176.67 by the 19th, with high trading volumes exceeding 236 million shares on the final day. Major news included Nvidia's $5 billion investment in Intel, announced mid-week, aiming to co-develop AI infrastructure and PCs, which propelled Intel to soar and concentrated bets on chip ETFs. AMD also benefited from the sector boom, with predictions of strong growth in AI semiconductors contrasting Nvidia's dominance. Analysts boosted S&P 500 targets, expecting 9.1% earnings growth in 2025, underscoring the AI-driven rally.
In the Middle East, resilience was evident as Gulf markets firmed amid bargain hunting. UAE's ADX rose 0.29% to 10,128 points on September 19, supported by gains in stocks like Emirates NBD (up 2.4%), while DFM ended a difficult week positively with a 1.5% gain on the 19th, led by Union Properties (up over 6%) and Emaar entities. KSA's Tadawul showed stability near two-year lows but with upward momentum from penny stocks and non-oil growth hitting six-month highs in August, boosting investor confidence. Notable transactions included Mubadala raising Dh3.15 billion by selling a 7.55% stake in Du on September 15.
India's markets displayed volatility: The Sensex snapped a five-day winning streak on September 15, closing down 0.15% at 81,785.74 after hitting a low of 81,744.70, dragged by auto and IT sectors. It rebounded 0.73% to 82,380.69 on the 16th, but broke the streak again on the 19th, settling 0.47% lower amid broader drags. Nifty followed suit, dipping 0.18% to 25,069.20 on the 15th, rising to 25,261.40 on the 16th, and fluctuating around 25,000-25,300 levels, with realty gaining while auto lagged.
Crypto markets were turbulent: Bitcoin dropped 0.4% early to $105,250 on September 15 amid a $4.15 trillion market cap decline, but jumped later, hitting $124,000 before retreating due to macro signals and ETF inflows. Ethereum fell 0.2% to $4,504 but broke out to $4,953, with mixed altcoin performances like XRP down 0.4% to $3.02. September's historical volatility persisted, influenced by Fed pivot hints and liquidity events.
Looking ahead to this week (September 22-28, 2025), expectations are tempered by a packed economic calendar. In the USA, key events include China's Loan Prime Rate announcements at 1:15 AM on the 22nd, potentially affecting global commodities; the Chicago Fed National Activity Index at 12:30 PM, influencing sector-sensitive stocks; and multiple Fed speeches (e.g., Williams at 1:45 PM, Musalem at 2:00 PM, Barkin at 4:00 PM) that could sway rate expectations, impacting AI/semiconductors if dovish tones emerge. Euro Area Consumer Confidence Flash at 2:00 PM and US bill auctions at 3:30 PM may pressure yields, while the UN General Assembly could spark geopolitical sentiment shifts. Middle East markets, lacking direct events, may react to these global cues, with potential stability from non-oil growth but risks from emerging market sentiment like Turkey's Consumer Confidence at 7:00 AM. India's indices could be influenced by the same, with no major local schedules but possible ripple from Australia's PMI flashes at 11:00 PM on the 22nd affecting Asia-Pacific flows. Crypto stands out with Korea Blockchain Week (September 22-28 in Seoul), featuring keynotes, workshops, and over 780 side events like Seoul Pulse by Neo and RWAfi.RAW by Pharos, potentially driving adoption and price rallies in BTC/ETH amid macro volatility. Expected impacts include heightened USA market volatility (possible 1-2% swings in S&P/Nasdaq), steady Middle East gains if global data supports, India's mixed sessions with realty upside, and crypto optimism (BTC potentially retesting $120,000) balanced by rate uncertainties.