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Gold-mining ETFs surged as weak jobs data reduced Fed rate-hike fears.
Space ETFs rallied as SpaceX shares jumped on strong investor optimism.
Silver and defense ETFs gained sharply amid easing macro concerns.
Wall Street was upbeat last week, with the S&P 500 surging about 3.6%, the Dow Jones adding about 3%, the Nasdaq Composite soaring about 5.2% (helped by a rebound in semiconductor stocks) and the Russell 2000 advancing about 3.5%.
The major indexes advanced for a second straight week. All three large-cap indexes posted their strongest weekly gains since April, as quoted on CNBC. The iShares Semiconductor ETF (SOXX - Free Report) , meanwhile, gained more than 7% during the week.
Stocks Rally As Jobs Data Eases Rate-Hike Fears
U.S. stocks rallied Friday after a weaker-than-expected July jobs report eased concerns that the Federal Reserve may need to raise interest rates soon. Investors interpreted the labor-market weakness as giving the Fed more reason not to hike interest rates ahead despite sticky inflation.
Weak Jobs Report Eases Fed Concerns
The July nonfarm payrolls report showed a decline of 23,000 jobs, sharply missing economists’ expectation for an increase of 83,000, per CNBC. The unemployment rate fell to 4.1% from 4.2%, although the labor-force participation rate dropped to its lowest level in more than five years.
Following the report, most fed funds futures traders expected the Fed to leave its benchmark interest rate unchanged at 3.50%-3.75% at its September meeting. A day earlier, traders had been pricing in a 55% probability of a 25-basis-point rate hike, per the same CNBC source.
The weaker labor-market data helped ease concerns about rising yields and inflation, two key risks for equities. Software stocks outperformed late last week as recent earnings helped ease concerns that artificial intelligence could disrupt the industry.
Hormuz Outlook Improving?
Investors awaited a potential agreement between the United States and Iran to reopen the Strait of Hormuz. Treasury Secretary Scott Bessent had indicated earlier in the week that a deal could be reached soon. United States Brent Oil Fund LP (BNO - Free Report) lost 1.6% last week.
For now, improving prospects for a resolution have reduced market anxiety. However, renewed tensions or a delay in reopening the key shipping route could quickly revive concerns over oil prices, inflation and market volatility.
Best-Performing ETF Areas of Last Week
Against the above-mentioned backdrop, below we highlight a few winning ETF areas of last week.
Gold prices were upbeat last week, with SPDR Gold Trust (GLD - Free Report) adding about 7.7%. Since jobs data came in weak, the Fed is less likely to hike rates at the September meeting. This should make the greenback weak and drag down Treasury yields, which is a plus for precious metal investing
SpaceX (SPCX - Free Report) shares jumped 15.8% on Friday, which was one of its best days ever. Retail investors have remained net buyers of SpaceX since its June IPO. SpaceX's AI ambitions are fueling optimism despite heavy spending and losses.
For the week, SPCX was up 25.8%, boosting ETFs like XSPC and WARP as those ETFs invest heavily in SPCX stock.
Defense
Defiance Drone and Modern Warfare ETF (JEDI - Free Report) – Up 23.3%
Several Space and Defense stocks rose last week, with one of JEDI’s key holdings — Rocket Lab (RKLB) — gaining about 31.2%. Unusual Machines, which takes about 11% weight of JEDI, rose 22.9% last week while Redwire, which makes up about 10.9% of the fund’s weight, surged 62.4%.
Silver Mining ETFs
iShares MSCI Global Silver Miners ETF (SLVP - Free Report) – Up 21.8%
Silver bullion ETF iShares Silver Trust (SLV - Free Report) surged 12.3% last week, as hopes for a less-hawkish Fed helped the silver investing. Moreover, the silver has heavy industrial usage. Plus, silver is a key component in high-tech electronics. Hence, artificial intelligence drives structural demand for silver by boosting the global construction of high-voltage data centers, advanced semiconductor chips, 5G networks, and renewable solar energy grids, as quoted on goldsilver.com.
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Best-Performing ETF Areas of Last Week
Key Takeaways
Wall Street was upbeat last week, with the S&P 500 surging about 3.6%, the Dow Jones adding about 3%, the Nasdaq Composite soaring about 5.2% (helped by a rebound in semiconductor stocks) and the Russell 2000 advancing about 3.5%.
The major indexes advanced for a second straight week. All three large-cap indexes posted their strongest weekly gains since April, as quoted on CNBC. The iShares Semiconductor ETF (SOXX - Free Report) , meanwhile, gained more than 7% during the week.
Stocks Rally As Jobs Data Eases Rate-Hike Fears
U.S. stocks rallied Friday after a weaker-than-expected July jobs report eased concerns that the Federal Reserve may need to raise interest rates soon. Investors interpreted the labor-market weakness as giving the Fed more reason not to hike interest rates ahead despite sticky inflation.
Weak Jobs Report Eases Fed Concerns
The July nonfarm payrolls report showed a decline of 23,000 jobs, sharply missing economists’ expectation for an increase of 83,000, per CNBC. The unemployment rate fell to 4.1% from 4.2%, although the labor-force participation rate dropped to its lowest level in more than five years.
Following the report, most fed funds futures traders expected the Fed to leave its benchmark interest rate unchanged at 3.50%-3.75% at its September meeting. A day earlier, traders had been pricing in a 55% probability of a 25-basis-point rate hike, per the same CNBC source.
The weaker labor-market data helped ease concerns about rising yields and inflation, two key risks for equities. Software stocks outperformed late last week as recent earnings helped ease concerns that artificial intelligence could disrupt the industry.
Hormuz Outlook Improving?
Investors awaited a potential agreement between the United States and Iran to reopen the Strait of Hormuz. Treasury Secretary Scott Bessent had indicated earlier in the week that a deal could be reached soon. United States Brent Oil Fund LP (BNO - Free Report) lost 1.6% last week.
For now, improving prospects for a resolution have reduced market anxiety. However, renewed tensions or a delay in reopening the key shipping route could quickly revive concerns over oil prices, inflation and market volatility.
Best-Performing ETF Areas of Last Week
Against the above-mentioned backdrop, below we highlight a few winning ETF areas of last week.
Gold Miners
Sprott Junior Gold Miners ETF (SGDJ - Free Report) – Up 25.4%
VanEck Junior Gold Miners ETF (GDXJ - Free Report) – Up 23.3%
Gold prices were upbeat last week, with SPDR Gold Trust (GLD - Free Report) adding about 7.7%. Since jobs data came in weak, the Fed is less likely to hike rates at the September meeting. This should make the greenback weak and drag down Treasury yields, which is a plus for precious metal investing
Space
VegaShares SpaceX & Beyond Earth ETF (XSPC - Free Report) – Up 25.2%
VanEck Space ETF (WARP - Free Report) – Up 18.7%
SpaceX (SPCX - Free Report) shares jumped 15.8% on Friday, which was one of its best days ever. Retail investors have remained net buyers of SpaceX since its June IPO. SpaceX's AI ambitions are fueling optimism despite heavy spending and losses.
SpaceX's first major insider lockup expired on Aug. 6, 2026, releasing roughly 911.5 million restricted shares valued at approximately $100 billion. Shares surged 6.1% on Aug. 6 (read: SpaceX Stock Loved by Retail Investors: ETFs in Focus).
For the week, SPCX was up 25.8%, boosting ETFs like XSPC and WARP as those ETFs invest heavily in SPCX stock.
Defense
Defiance Drone and Modern Warfare ETF (JEDI - Free Report) – Up 23.3%
Several Space and Defense stocks rose last week, with one of JEDI’s key holdings — Rocket Lab (RKLB) — gaining about 31.2%. Unusual Machines, which takes about 11% weight of JEDI, rose 22.9% last week while Redwire, which makes up about 10.9% of the fund’s weight, surged 62.4%.
Silver Mining ETFs
iShares MSCI Global Silver Miners ETF (SLVP - Free Report) – Up 21.8%
Sprott Silver Miners & Physical Silver ETF Silver Miners ETF (SLVR - Free Report) – Up 21.4%
Silver bullion ETF iShares Silver Trust (SLV - Free Report) surged 12.3% last week, as hopes for a less-hawkish Fed helped the silver investing. Moreover, the silver has heavy industrial usage. Plus, silver is a key component in high-tech electronics. Hence, artificial intelligence drives structural demand for silver by boosting the global construction of high-voltage data centers, advanced semiconductor chips, 5G networks, and renewable solar energy grids, as quoted on goldsilver.com.