From Figma to the Fed: This Week’s Finance Rundown

Daniel Ledenev
Aug 2
6 min read

Updated: Aug 23

👋 Welcome Back Investors! (July 28 to Aug 1, 2025)

This week served as a sharp reminder that even record-setting rallies can hit turbulence. After riding high on earnings and tech momentum, Wall Street pulled back as a disappointing U.S. jobs report and a fresh round of global tariffs shook investor confidence. The S&P 500 and Nasdaq both snapped their winning streaks, while the Dow dropped over 500 points. Meanwhile, inflation crept higher, the Fed’s tone grew more cautious, and global trade headlines returned to the spotlight. With uncertainty rising and rate cut speculation heating up, investors are heading into August with one hand on the throttle, and the other hovering over the brake.

📉 Markets Reverse as Tariffs and Jobs Data Snap the Rally

The week started strong, but sentiment flipped sharply after a disappointing jobs report and a new wave of Trump-era tariffs spooked investors. The S&P 500 dropped 1.6%, the Nasdaq fell 2.2%, and the Dow shed 542 points, marking one of the steepest weekly pullbacks in months. The market reaction came after July payrolls showed just 73,000 jobs added, with significant downward revisions to May and June, stoking concerns about a slowing labor market. At the same time, President Trump introduced fresh tariffs on countries including Canada, Switzerland, and Taiwan, reigniting fears of global trade friction. The Nasdaq bore the brunt of the selloff, with high-valuation growth names under pressure as bond yields ticked higher. Tech giants like Amazon saw strong earnings but couldn’t offset broader macro worries. The sudden reversal highlights a growing theme: strong earnings may no longer be enough to carry this market if economic and policy headwinds build. As one analyst noted, “We’re not selling off because of company results, we’re selling off because the macro picture just got cloudy.” For now, it’s caution over celebration.

🚀 Figma IPO Pops, Minting Billions for Top VC Backers

In one of the most talked-about IPOs of the year, Figma made its public debut and didn’t disappoint, shares soared, valuing the design platform at over $40 billion by the end of the week. As reported, top venture capital firms like Sequoia Capital and Andreessen Horowitz now sit on a combined $20 billion in unrealized gains from their early investments. The company’s blockbuster opening marks a major moment for the IPO market, which has remained cautious in 2025 amid rate uncertainty and tech sector volatility. Figma’s rise isn’t just about design tools, it’s seen as a signal that investors are regaining confidence in high growth, high-margin SaaS businesses, especially ones tied to the broader AI and productivity wave. The strong demand for Figma shares stands in contrast to many post-IPO struggles seen in recent quarters, suggesting that the right names, with the right narrative, can still break through. With markets cooling on macro data, this IPO was a rare bright spot, giving both investors and VCs something to cheer about heading into August.

📊 July Jobs Report Misses, Fueling Economic Concerns

All eyes were on Friday’s Non-Farm Payrolls (NFP) report, and the numbers disappointed. The U.S. economy added just 73,000 jobs in July, well below expectations of 106,000. Even more concerning, May and June figures were revised down by a combined 89,000, pointing to a broader deceleration in the labor market. Wage growth also showed signs of cooling, rising only 0.2% month-over-month, and 3.7% year-over-year, signaling that inflationary pressure from wages may be easing, but at the cost of hiring momentum. The report added weight to fears that monetary tightening and trade headwinds may be catching up with the real economy. Sectors like retail, manufacturing, and temporary help services all showed contraction, while healthcare and government hiring provided the few bright spots. The miss puts further pressure on the Federal Reserve ahead of its next meeting, with markets now pricing in a higher probability of a rate cut by September. While unemployment stayed steady at 4.1%, the drop in job creation could signal the start of a much softer labor market heading into fall, and it’s already making Wall Street nervous.

💻 Big Tech Earnings Shine, But Macro Clouds Keep Gains in Check

This week, Big Tech delivered a strong earnings performance, with companies like Apple, Microsoft, and Alphabet all beating expectations, but the broader market didn’t celebrate for long. The results showed robust demand for AI infrastructure, cloud services, and digital advertising, helping drive double digit earnings growth in several cases. Microsoft posted a 15% year-over-year increase in cloud revenue, Apple surprised with stronger iPhone and services sales, and Alphabet saw its advertising business rebound sharply. Despite the upbeat numbers, investor reaction was muted as macroeconomic concerns weighed on sentiment. The market's pullback this week wasn’t due to earnings disappointment, in fact, tech’s fundamentals remain solid, but rather, it reflected broader anxiety around the U.S. labor market, rising tariffs, and the potential for slowing global growth. Traders are now walking a fine line: impressed by corporate strength, but increasingly cautious about where the macro winds are blowing. As one analyst put it, “It’s not about what companies just did, it’s about what the world might do next.”

🌍 U.S.–EU Trade Deal Lifts European Markets to 4-Month Highs

Markets across Europe rallied this week after the U.S. and European Union finalized a long-awaited trade agreement, easing months of uncertainty around tariffs and cross-border business. The deal includes reductions in duties on key goods and stronger cooperation on digital and energy sectors. The market reaction was swift, the Stoxx 600 rose 0.8%, France’s CAC 40 climbed 0.9%, and Germany’s DAX added 0.7%, marking their highest levels in four months. The agreement is seen as a win for exporters, manufacturers, and automakers on both sides of the Atlantic, especially as global trade tensions remain elevated elsewhere. Investors also welcomed the move as a sign of renewed transatlantic alignment, potentially softening the impact of other tariffs introduced by the U.S. in recent weeks. With China’s economy slowing and geopolitical risks rising, this deal offered rare relief, and a reason for optimism in European equity markets.

👀 Stocks to Watch: What This Week’s Moves Reveal

Markets opened the week on a strong note as tech earnings and IPO enthusiasm lifted sentiment, but tariff chatter, global slowdown fears, and cautious economic data tempered the rally into the weekend. The S&P 500 and Nasdaq hit more record highs, but investor focus rotated as earnings season marched on and macro clouds gathered. From tech titans to commodities and logistics, here are the stocks that made noise this week:

Amazon (AMZN) – Rallied after a strong earnings beat highlighted robust cloud growth and steady consumer demand. AI investments and operational efficiencies supported renewed bullishness.
Figma (via Adobe ADBE) – Made headlines with a blockbuster IPO, valuing the design startup at $20 billion. Venture backers and early investors saw big gains, adding fuel to broader IPO sentiment.
Silver (XAG/USD) – Extended its rally toward $30, boosted by a weaker U.S. dollar and renewed Fed pivot expectations. Traders turned bullish as real yields softened and safe-haven demand rose.
ExxonMobil (XOM) – Continued its steady climb with oil holding near $80. Supply risks and tight inventories supported energy names, especially as Chinese demand remained solid.
European Autos (STLA, VWAGY) – Jumped as U.S.–EU trade deal optimism lifted European equities. Stellantis and Volkswagen led the charge, rebounding from tariff fears.
Apple (AAPL) – Edged higher ahead of its earnings release, as investors bet on resilient hardware sales and AI integration momentum, keeping it in the spotlight.

🛎️That’s a Wrap!

That’s it for this week’s recap, thanks for tuning in! Stocks marched to more record highs as Big Tech earnings and IPO buzz kept the momentum alive. Amazon impressed with strong cloud and retail results, while Figma’s debut added fuel to the growth narrative. Silver surged toward $30 on Fed pivot hopes, and oil held firm near key support levels. Overseas, European shares rallied as a U.S.–EU trade deal brought optimism back to global markets. With jobs data on deck and rate speculation swirling, next week could be just as eventful. Stay sharp, summer markets are still heating up.

Until then, stay focused and stay curious. Catch you next week 👋