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The U.S. Senate has passed President Trump’s Big Beautiful bill, including tax cuts and reduced Medicaid spending. After a tie-breaking vote by Vice President Vance, the bill – the very one that has caused a rift between President Trump and Elon Musk – is now set to be debated by the House of Representatives with a July 4 deadline in sight. The bill is set to add a reported $3.3 trillion in debt to America’s balance sheet.
The markets remain aimless, with the Nasdaq Composite now lower by 0.55%.
Automaker Ford (NYSE: F) revealed that its Q2 sales increased by 14%, blowing past the consensus estimates of a 1.4% gain. Driving the results were sales of both fossil fuel and EVs, including its F-Series trucks as well as hybrid and EVs, which are part of its electrified vehicle segment. Consumers also prioritized vehicle purchases due to the impending tariffs. Ford stock is up 3.4% today.
The Nasdaq Composite has widened its losses on the day to nearly 1%.
Fed Chairman Jerome Powell is making the speaking rounds and soothed some fears by saying the economy is in a rather good place. The Fed chief went on to suggest that most policymakers are betting on interest rate cuts in 2025; but he refused to commit to lowering rates at the upcoming July FOMC meeting, stubbornly saying the decision would depend on the data.
The Nasdaq Composite is now down 0.34%.
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This article will be updated throughout the day, so check back often for more daily updates.
The markets are mixed on the heels of yesterday’s record session in which the Nasdaq Composite and S&P 500 extended their gains. Today, the Dow Jones Industrial Average is relatively flat while the Nasdaq Composite and S&P 500 are retreating slightly. Sectors of the economy are also giving a mixed showing, with consumer staple stocks higher while tech is under pressure.
Wall Street firm Goldman Sachs is bullish, saying in a note that the stock market’s remarkable recovery of 2025 is not over, predicting that it will take more ground in the coming weeks. The S&P 500 has now advanced 20% since its lows of the year in April. While the stock market rally is likely to stick around for July, Goldman Sachs traders warn that it could fizzle out in August.
EV leader Tesla (Nasdaq: TSLA | TSLA Price Prediction) is pressuring the tech sector today, falling 6.2% after CEO Elon Musk returned to the political battlefield, restarting a social media wrestling match with President Trump, who threatened to scrutinize any government subsidies to Musk’s businesses. Separately, Amazon (Nasdaq: AMZN) has now unleashed 1 million of its warehouse robots, sending shares fractionally higher today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 0.54 (+0.03%)
Nasdaq Composite: Down 89.77 (-0.46%)
S&P 500: Down 15.26 (-0.26%)
Chip stock Wolfspeed (NYSE: WOLF), which uses silicon carbide in its chip sets, is soaring by a whopping 172% after the company announced it would file for bankruptcy protection. Wolfspeed has been wrestling with too much debt, a situation worsened by weakened demand from the EV and industrial sectors.
Trading platform Robinhood (Nasdaq: HOOD) is tacking on 4% in today’s session amid a renewed cryptocurrency push in the U.S. and EU markets.
AeroVironment (Nasdaq; AVAV) is spiraling by 6.4% today after unveiling its plan to tackle debt, including the issuance of common stock and convertible senior notes.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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