Jul. 05, 2025 12:40 AM ETS&P 500 Index (SP500), SPXSP500, SPX, NAPR, QYLG, QQQA, QQQ, ONEQ, QQEW, QQXT, QQQE, NJAN, QQQM, QQQJ, QYLD, QTEC, VO, MDY, IJH, IWR, BMVP, FNX, EZM, CSD, CZA, BUL, XJH, IMCB, IVOO, GRPM, SCHM, ONEO, EQAL, REGL, PTMC, JHMM, DEUS, XMHQ, FLQM, FTDS, JPME, FSCS, USMF, SPMD, VFMF, VFMV, VFQY, FSMD, SFYX, SPY, TPLC, AFMC, SQEW, PAMC, SIXL, BKMC, QVMM, BBMC, MIDE, VXF, IJK, IWP, VOT, RFG, FAD, FNY, IPO, CWS, IMCG, MDYG, IVOG, XMMO, BFOR, ARKK, FFTY, ETHO, QMOM, JSMD, NUMG, HAIL, VFMO, PEXL, BOUT, KOMP, MID, FRTY, PY, PEY, IJJ, IWS, VOE, DIV, DON, FAB, RWK, IMCV, MDYV, IVOV, XMVM, XMLV, SYLD, VUSE, QVAL, ONEV, ONEY, NUMV, WBIY, SDVY, VFVA, DVLU, DDIV, VRAI, HOMZ, FOVL, TPHD, TMDV, LSAT, RSPT, FFSM, UPGD, SOXL, RETL, DRN, HIMZ, HIMSLance RobertsInvesting Group LeaderSummaryMarkets kicked off the second half of 2025 with a strong finish to Q2, propelled by easing geopolitical fears, falling oil prices, and a reaffirmation of the Fed’s dovish tone.While the strong finish to Q2 has given investors reason to celebrate, the underlying structure of the rally calls for caution.Retail investor greed dominates market activity, echoing some of the same speculative behaviors seen during previous risk-on phases.The fascinating thing about 2025 is that the market 'feels' much like it did in 2020, but the backdrop is entirely opposite.AscentXmedia/iStock via Getty ImagesMarket Brief: Entering H2 2025Markets kicked off the second half of 2025 with a strong finish to Q2, propelled by easing geopolitical fears, falling oil prices, and a reaffirmation of the Fed’s dovish tone. The S&P 500 roseThis article was written byLance Roberts32.56K FollowersAfter having been in the investing world for more than 25 years from private banking and investment management to private and venture capital; I have pretty much "been there and done that" at one point or another. I am currently a partner at RIA Advisors in Houston, Texas.The majority of my time is spent analyzing, researching and writing commentary about investing, investor psychology and macro-views of the markets and the economy. My thoughts are not generally mainstream and are often contrarian in nature but I try an use a common sense approach, clear explanations and my “real world” experience in the process.I am a managing partner of RIA Pro, a weekly subscriber based-newsletter that is distributed to individual and professional investors nationwide. The newsletter covers economic, political and market topics as they relate to your money and life.I also write a daily blog which is read by thousands nationwide from individuals to professionals at www.realinvestmentadvice.com.CommentsRecommended For You