Weekly Market Recap | June 30 – July 06

Analyst Highlights

• IPOs Raised $1.2B+: 11 listings led by EQV Ventures ($420M), 1RT Acquisition ($150M), and Vendome ($200M); strong SPAC and fintech focus.
  

• S&P 500 closed at 6,279.35, up +1.39% for the week; Nasdaq at 20,601.10, gaining +1.13%; Dow up +1.66%.
  

• Bitcoin rose to $109,232, posting a +3.89% weekly gain; Ethereum at $2,571 (+2.82%), XRP up nearly +3%.
  

• Small-cap stocks led equity gains, with the Russell 2000 up +3.4%, signaling broader market breadth.
  

• Oil rallied as WTI hit $66.50 (+2.07%) and Brent closed at $68.29 (+1.67%) despite oversupply fears from OPEC+.
  

• Volatility eased with the VIX dropping -2.09%, reflecting investor confidence amid strong U.S. labor data and easing Fed fears.

IPO’s in the week

• Cohen Circle Acquisition Corp. II (CCIIU, Nasdaq Global) – A blank check company targeting fintech and adjacent sectors priced its IPO on July 1, offering 22 million units at $10.00 each, raising $220 million. Led by veteran SPAC sponsor Betsy Z. Cohen, the Cayman Islands–incorporated company plans to pursue innovative businesses across financial services, real estate, insurance, and e-commerce technology infrastructure. The firm has not yet identified an acquisition target.
• Grande Group Ltd/HK (GRAN, Nasdaq Capital) – A Hong Kong-based boutique financial advisory firm listed on July 1, raising $9.38 million by offering 1.875 million shares at $5.00 each. Through its operating subsidiary, Grande Capital, the firm specializes in IPO sponsorships, corporate finance advisory, and compliance consulting. It ranked 10th in Hong Kong’s Type 6 advisory market and has completed 16 IPOs on the HKSE since 2018. The company serves clients across Hong Kong, Mainland China, and Singapore, and recently added referral services to its revenue model.
• Indigo Acquisition Corp. (INACU, Nasdaq Global) – A Miami-based blank check company led by James S. Cassel went public on July 1, offering 10 million units at $10.00 each to raise $100 million. The Cayman Islands–incorporated SPAC intends to pursue profitable businesses with strong fundamentals and growth potential across any industry or geography. Indigo has not identified a target yet but plans to leverage its team’s experience and access to public markets to drive long-term shareholder value.
• NMP Acquisition Corp. (NMPAU, Nasdaq Global) – A newly formed SPAC based in Palo Alto, California, priced its $100 million IPO on July 1, offering 10 million units at $10.00 each. Each unit includes one Class A share and one-fifth of a right to receive another Class A share post-merger. Backed by Maxim Group LLC, the company aims to pursue a business combination across industries. Shares and rights will trade under symbols “NMP” and “NMPAR” once separated. The IPO proceeds are held in trust, with up to $300,000 in interest allocated for working capital.
• 1RT Acquisition Corp. (ONCHU, Nasdaq Global) – Backed by Dan Tapiero’s 1RoundTable Partners, this SPAC focused on blockchain and digital assets raised $150 million in its July 2 IPO by offering 15 million units at $10.00 each. The Cayman Islands–incorporated firm is targeting companies in the digital asset ecosystem with enterprise values over $1 billion, including those in crypto, tokenized real estate, and DeFi infrastructure. 1RT’s executive team brings deep experience in macro investing, private equity, and blockchain. No acquisition target has been identified yet.
• CapsoVision, Inc. (CV, Nasdaq Capital) – A medical technology company specializing in AI-enabled capsule endoscopy solutions, CapsoVision raised $27.5 million in its July 2 IPO by offering 5.5 million shares at $5.00 each. Based in Saratoga, California, the company’s flagship product, CapsoCam Plus, offers panoramic imaging of the small intestine without external wires. With FDA clearance already secured, CapsoVision is targeting new approvals for AI-assisted versions and a colon-focused capsule by 2026. The company has served over 135,000 patients globally and reported 21% revenue growth in 2024.
• CoastalSouth Bancshares, Inc. (COSO, NYSE) – The Atlanta-based bank holding company behind Coastal States Bank went public on July 2, raising $43.75 million by offering 2.035 million shares at $21.50 each. With a strong community banking presence in Georgia and South Carolina, the company also operates four high-margin specialty lending lines: senior housing, marine, government-guaranteed, and mortgage banker finance. CoastalSouth targets underserved markets with assets between $1.5B–$5B, blending traditional banking with scalable niche strategies.
• Empro Group Inc. (EMPG, Nasdaq Capital) – A Malaysia-based beauty and healthcare products company raised $5.5 million in its July 2 IPO by offering 1.375 million shares at $4.00 each. Empro operates through its subsidiary EMP Solution and is known for its proprietary eyebrow pencils, Aerofit face masks, and the recently launched SpaceLift skincare line. With distribution deals across Southeast Asia and Europe, including Watsons and Sasa, the firm blends retail and e-commerce to reach diverse markets. Cosmetics now drive most of its revenue, following a post-COVID shift from medical products.
• EQV Ventures Acquisition Corp. II (EVACU, NYSE) – Backed by energy-focused EQV Group, this SPAC raised $420 million in its July 2 IPO by offering 42 million units at $10.00 each. Based in Park City, Utah, the company targets mergers in the traditional energy sector—particularly upstream oil and gas assets with long-life, low-decline profiles. Led by Jerome Silvey, the team brings deep experience across 1,600+ oil and gas properties in North America and Europe. While no deal is finalized, the firm may revisit targets previously engaged by its predecessor, EQV I.
• Origin Investment Corp I (ORIQU, Nasdaq Global) – A Singapore-based SPAC targeting high-growth sectors in Asia raised $60 million in its July 2 IPO, offering 6 million units at $10.00 each. The Cayman Islands–incorporated firm aims to acquire private companies in sectors such as fintech, AI, biotech, clean energy, and advanced materials—excluding targets with Chinese VIE structures. Led by CEO Edward Chang, the team is focused on middle-market firms with strong fundamentals and a path to positive cash flow looking to access U.S. capital markets.
• Vendome Acquisition Corp I (VNMEU, Nasdaq Global) – A newly formed SPAC led by Scott LaPorta raised $200 million in its July 2 IPO, offering 20 million units at $10.00 each. Headquartered in Park City, Utah, Vendome aims to acquire a business with an enterprise value over $500 million, leveraging its team’s deep M&A, capital markets, and operational expertise. While industry-agnostic, the firm will focus on sectors where its management team can offer strategic advantages post-merger. No target has been identified yet.

Markets Weekly

1. S&P 500 closed at 6,279.35 on July 5, gaining 86 points or +1.39% during the week?
2. Russell 1000 IWB Closed at 343.73 on July 3, up from 339.55.
3. Russell 2000 closed at 2,249.04 on July 3, up +74.00 points or +3.40% during the week.
4. Russell 3000 closed at 3,573.18 on July 3, up +46.78 points or +1.33%.
5. CBOE closed at 16.38 on July 3, down -0.35 points or –2.09%.
6. Dow Jones closed at 44,828.53 on July 3, gaining +733.76 points or +1.66%.
7. Nasdaq closed at 20,601.10 on July 3, up +231.37 points or +1.13%.
8. Bitcoin closed at $109,232.07 a weekly gain of +$4,087 or +3.89%.
9. Ethereum closed at $2,571.24 a weekly gain of +$70.63 or +2.82%.
10. Solana closed at $151.87 a weekly loss of -$1.48 or -0.97%.
11. XRP closed at $2.2725 a weekly gain of +$0.0654 or +2.96%.
12. Gold closed at $3,332.50 a weekly gain of +$66.60 or +2.04%.
13. Silver closed at $36.78 a weekly gain of +$0.88 or +2.45%.
14. WTI crude closed at $66.50 a weekly gain of +$1.35 or +2.07%.
15. Brent crude closed at $68.29 a weekly gain of +$1.12 or +1.67%.

• Oil dips as OPEC+ announces larger-than-expected output hike of 548,000 bpd, stoking oversupply fears amid weak demand outlook and Trump tariff pressure.
• Trump’s country-by-country tariffs set to take effect Aug. 1, with Commerce Secretary Lutnick confirming letters and deals will be finalized by July 9.
• Trump threatens 10% tariff on nations backing BRICS policies, escalating geopolitical risk and fueling investor fears of a broader global trade rupture.
• Traders shift short-dollar bets beyond the euro, favoring the yuan, Aussie, and won as Fed rate cut bets rise and U.S. exceptionalism narrative weakens.
• Indonesia pledges to boost U.S. wheat imports in bid to secure trade deal before tariff deadline, aiming for 1M+ tons annually by 2026.
• Nissan to raise ¥150B via convertible bonds for tech investment and turnaround, as new CEO targets major restructuring amid looming debt wall.
• Over 500,000 Bitcoin dumped by whales as institutions absorb supply, shifting BTC toward a slower, less volatile asset class with capped 10–20% annual returns.
• U.S. stock futures slide as Trump warns of unilateral tariffs up to 70%, spooking markets ahead of July 9 deadline amid global push for trade concessions.
• U.S. Secret Service expands global crypto scam crackdown, training 60+ nations and recovering $400M in fraud as digital investment cons surge worldwide.
• U.S. and Brazil rush to finalize a tariff deal before Trump’s July 9 deadline, as BRICS raises concerns over rising unilateral trade distortions.
• Israel’s central bank expected to hold rates at 4.5% for 12th time, balancing shekel rally’s cooling effect on inflation against wartime labor shortages.
• S&P 500 and Nasdaq hit fresh record highs after U.S. added 147,000 jobs in June, beating forecasts and easing labor market concerns.

Politics Weekly

• Trump warns over a dozen nations of looming tariffs up to 70% as July 9 deadline nears, with trade letters extending deal window to Aug 1.
• India prepares retaliatory tariffs after no breakthrough in U.S. trade talks, warns WTO of duties on American goods including autos.
• China under pressure to comply with rare-earth export pact as U.S. officials cite delays in access and lack of transparency in secret deal.
• Death toll from Central Texas floods rises to 82 as flash-flood alerts continue and search teams race to find missing campers along the Guadalupe River.
• Trump and Netanyahu to meet at the White House as Gaza ceasefire talks resume and Iran signals openness to nuclear negotiations amid regional shift toward diplomacy.
• Zohran Mamdani wins NYC primary with quiet support from millionaires backing his tax-the-rich, pro-equity agenda.
• Elon Musk announces creation of the ‘America Party’ on X, sparking clash with Trump despite no official filings or structure behind the third-party move.
• Trump clinches support for his sweeping megabill after late-night deals with GOP holdouts, offering executive action on spending cuts and renewable energy delays.
• U.S. halts key weapons shipments to Ukraine, including Patriot missiles, as Trump administration shifts focus to China and Middle East, sparking concern in Kyiv.
• Trump takes control of America’s 250th birthday plans, inserting MAGA themes and rally staff into 2026 events, including a hero statue garden shaped by his vision.
• UK economy shows signs of recovery as hiring and services activity rebound, easing pressure on Chancellor Reeves after Labour tax hikes and Trump’s tariff shock.
• Zelenskiy urges allies to provide $30 billion by year-end to scale Ukraine’s arms production, as U.S. support fades and Russian advances continue.
• Germany approves €46B tax cut package after striking cost-sharing deal with states, aiming to revive growth following two years of economic contraction.
• EU and Canada to sign security pact ahead of NATO summit, aiming to deepen defense ties and explore joint military procurement amid shifting global alliances.
• EU warns it will hit back with tariffs on $116B of U.S. goods, including Boeing jets, if Trump’s baseline duties stay in place after July 9 negotiations.

Technology Advancements in the week

• TSMC delays Japan chip plant to prioritize U.S. expansion. Move aims to avoid Trump tariffs and shift AI server production to Arizona.
• Nvidia and Microsoft near $4T on AI boom, but Microsoft faces OpenAI rift, chip delays, and fresh layoffs.
• Meta hires Daniel Gross, ex-CEO of Safe Superintelligence, to join its new AI superintelligence lab as Zuckerberg accelerates top-talent recruitment.
• Capgemini to acquire WNS for $3.3B to expand in agentic AI, outbidding rivals and targeting 4% EPS boost by 2026.

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