Macroeconomics

Weekly Market Monitor

June 27, 2025 | 3 minute read
Download
The Strategic Advisory Solutions Market Monitor features a thematic chart and highlights key economic events and data releases driving the past week’s market moves.

Chart of the Week: Jobs Watch

Gauging the true momentum of the economy remains challenging due to the large front-loading effects ahead of tariffs, as well as the elevated risks posed by global geopolitical conflicts. We think labor market data will be an important signal to watch this summer. So far, high frequency indicators show that job growth has slowed and jobless claims have edged higher, suggesting the unemployment rate may resume its climb in June. While not our base case, we think a material slowdown in the labor market could lead the FOMC to deviate from its “wait and see” stance and cut rates sooner rather than later.

Chart of the Week

Source: Macrobond and Goldman Sachs Asset Management. As of June 25, 2025. Chart shows the weekly Initial Jobless Claims on a rolling 4-week average and the weekly Indeed Job Postings Indicator. For illustrative purposes only. “FOMC” refers to the Federal Reserve’s rate-setting body, the Federal Open Market Committee. “We” refers to Goldman Sachs Asset Management. The economic and market forecasts presented herein have been generated by Goldman Sachs Asset Management for informational purposes as of the date of this presentation. They are based on proprietary models and there can be no assurance that the forecasts will be achieved. 

Download the full document, which includes the chart of the week and a summary of market returns and economic activity over the week. On pages 2 and 3, we further recap equity sector, size and style returns, global index returns, as well as rates and spread movements and a monthly snapshot of global equity valuations.

Weekly Market Monitor
Our weekly Market Monitor features a thematic chart and highlights key economic events and data releases driving the past week’s market moves.
weekly market monitor
Start the Conversation
Contact Goldman Sachs Asset Management for a detailed discussion of your needs.
card-poster