The biggest gainer last week among companies with a capitalization of at least $10 billion was Oracle Corporation. The shares of this American technology giant engaged in the development of corporate software and databases grew by 23.68% in a week, reaching $215.22 per share. Next is Circle Internet Group, Inc. The shares of this company operating in blockchain technologies and digital currencies rose by 24.01% in a week, amounting to $133.56 per share. And this top three is concluded by Insmed Incorporated, with a growth of 34.11%. The price of one share of this pharmaceutical company reached $98.73. The top three of large-capitalization companies that recorded the biggest losses last week is opened by The J. M. Smucker Company. The price of shares of this American food company decreased by 13.67%, reaching $95.72 per share. Next is Chewy, Inc. The shares of this company engaged in online sales of products for pets fell by 13.57% in a week, reaching $41.67 per share. And this trio is completed by Samsara Inc., with a drop of 13.06%. The shares of this company offering IoT solutions for monitoring and managing transportation and industrial equipment went down to $39.21 per share.
US stock markets closed sharply lower on Friday due to the military actions that have begun between Iran and Israel. In one day, all three major indexes fell by more than one percent. For the week, the Dow Jones fell by 1.3%, the S&P 500—by 0.4%, and the Nasdaq—by 0.6%.
Rising tensions in the Middle East, which is the main region for the oil industry, have raised concerns about potential disruptions to oil supplies. Oil prices have risen sharply against this backdrop. In the US, oil prices rose 7.6% to $72.98. Risks have pushed investors to safe assets such as gold, the dollar, and government bonds. The US dollar rose against major currencies on Friday. The dollar index rose 0.5% to 98.2. Gold prices rose 1.6% to $3,437.21 an ounce. Experts say that the longer the aforesaid military conflict lasts, the more the lack of confidence in the markets will deepen.
The yield on the 10-year US government bonds increased by 5.6 basis points to 4.41%. The US bond funds saw net inflows of $4.08 billion in the week ended June 11, the eighth consecutive week of inflows for these funds. Short- and intermediate-term bond funds saw the largest inflows.
Major European indexes also fell sharply after Israel's massive strikes on Iran. The pan-European STOXX 600 index fell 0.9% on Friday, hitting its lowest level in three weeks and recording its fifth consecutive day of decline. Germany's DAX index dropped 1.1%. Oil company stocks rose by an average of 0.6%.
On June 13, Adobe shares fell 7%, despite the company raising its annual revenue forecast. The main reason for this decline is investor concern about the slow return on investment in artificial intelligence (AI). Adobe had previously announced that it would use models from OpenAI and Google in its Firefly generative AI platform.
Global airline and travel agency stocks plunged on June 13 amid the Iran-Israel conflict, which made oil prices soar and forced airlines to close Middle Eastern airspace. Investors are worried that Iran could block oil supplies through the Strait of Hormuz, through which about 20% of the world's oil passes. European and American airlines' shares fell by an average of 4-5%.
On June 10, a total of 30 billion drams of government bonds were placed on Armenia’s stock market, and they will be redeemed on April 29, 2028. The public auction had four participants, and the amount of bids submitted by them totaled 51.36 billion drams. The weighted average price of the placed government bonds was 97.4335 drams, and the yield was 9.4306 percent.
US consumer prices rose at a moderate 0.1% month-on-month rate in May, less than expected. The price increase was partly offset by lower gasoline prices. Despite the relatively mild inflation, economists warn that President Donald Trump administration's high tariffs could accelerate inflation again in the coming months.
The World Bank has cut its 2025 global economic growth forecast by 0.4 percentage points to 2.3%. The reason is high tariffs and rising trade uncertainty, which are creating serious obstacles for the global economy. Although the report does not predict a recession, it notes that global growth will be the slowest since 2008.
US job growth slowed significantly in May. The Labor Department reported that the country’s economy created 139,000 nonfarm jobs in May, but March and April figures were revised down by a combined 95,000. Taking these revisions into account, the actual number of jobs added in May was only about 44,000 in the US. Despite the slowdown, steady wage increase is keeping economic activity somewhat buoyant and enabling the Federal Reserve to delay the possible reduction in the refinancing interest rate.
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