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Market Moves: Week Ending 02 May 2025

Justin Lin
Justin Lin
06 May 2025
Market Moves 2 May

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  • Long equity funds (GEAR, GGUS, LNAS) were the top performing funds of the week after US equities rallied 5% on strong corporate earnings and cooling trade war tensions between China and the US. As of Friday, the S&P 500 capped off a nine-day winning streak – the longest stretch of continuous gains by the index since 2004.


  • Crude oil (OOO) was the worst performing non-leveraged asset of the week after the OPEC+ surprised the market with planned output expansions for June. The move follows a similar announcement in May and runs counter to the OPEC+’s historical efforts to prioritise “price-over-production”. Market pundits hypothesise that the latest production increases may be an attempt to appease US President Donald Trump, who has demanded lower oil prices to counter possible tariff-induced inflation.


  • There were $786.9 million in reported inflows for the week and $89.8 million in outflows, marking a week of net inflows for the Australian ETF industry.



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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

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