01 July 2025 Market Close & Major Financial Headlines: Senate Passes Trump’s Tax Bill as Tech Stocks Slide and Trade Talks Dominate Market Mood
Summary Of the Markets Today:
The Dow closed up 400 points or 0.91%,
NASDAQ closed down 167 points or 0.82%,
S&P 500 closed down 7 points or 0.11%,
Gold $3,350 up $42.1 or 1.27%,
WTI crude oil settled at $66 up $0.57 or 0.88%,
10-year U.S. Treasury 4.237 up 0.027 points or 0.639%,
USD index 96.77 down $0.11 or 0.11%,
Bitcoin $105,524 down $2,058 or 1.95%, (24 Hours),
*Stock data, cryptocurrency, and commodity prices at the market closing
Today’s Highlights – Market Summary
On July 1, 2025, U.S. stock markets delivered a mixed performance as investors digested the Senate’s narrow passage of President Trump’s sweeping tax and spending bill, which included major changes to tax structures and energy policy, and notably repealed the ban on state-level AI regulation—a setback for many tech firms. The S&P 500 hovered near record highs after its historic close the day before, while the tech-heavy Nasdaq Composite slipped, led by declines in Tesla shares amid renewed tensions between Elon Musk and President Trump. The Dow Jones Industrial Average outperformed, rising around 1% as investors rotated out of technology stocks and into blue chips. Market sentiment was further shaped by ongoing trade negotiations, with optimism fueled by Canada’s withdrawal of its digital services tax and hopes for new U.S. trade deals ahead of the looming deadline for Trump’s reciprocal tariffs. Economic data showed manufacturing remained in contraction, but the overall mood was buoyed by expectations of potential Federal Reserve rate cuts later in the year.
Read the June 2025 Economic Forecast: Recession Winds - Is the Glass Half Empty or Half Full
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
The ISM Manufacturing Index, Construction spending, and JOLTS which were released today - will be summarized in tomorrows newsletter.
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Infographic of the Day from Visual Capitalist:
Statista Graphic of the Day:
You will find more infographics at Statista
The headlines we are reading:
Weather Outlook for the United States and the World – Continuously Updated
This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks (up to four weeks) and three- and six-day World weather outlooks, which can be very useful for travelers and understanding World News Events. We also provide continual coverage of world tropical events and special coverage for such events and other special weather situations impacting or likely to impact the United States. To get your local forecast plus active alerts and warnings, click HERE and enter your city, state or zip code in the upper left corner.
Weather Outlook - At least the first two weeks of July.
But there is a conflict between the NOAA Report and the short term outlooks with respect to the focus of the Monsoon in July. At the end of every month, NOAA updates its Outlook for the following month, which in this case is July of 2025. We are reporting on that tonight. In this article, I refer to July 2025 as "The New Month". There have been some dramatically significant changes in the temperature and precipitation Outlook for the new month compared to the Mid-Month Outlook. Changes made are addressed in the NOAA Discussion, so it is well worth reading. We provided the prior Mid-Month Outlook for the new month for comparison. It is easy to see substantial changes made to the weather outlook by comparing the Mid-Month and Updated Maps.
For Comparison Purposes, Here is the earlier Mid-Month Outlook for July 2025:
What the Senate Republican tax and spending bill means for your money
Senate Republicans have approved their version of President Donald Trump’s “big beautiful” bill. Here’s what the provisions could mean for your money.
Clean energy stocks jump after tax on solar and wind projects is removed from Trump's big bill
The tax was ultimately struck from the final version of the bill, a modest win for an industry that is under attack from the Trump administration.
Powell confirms that the Fed would have cut by now were it not for tariffs
The U.S. central bank would likely have begun cutting interest rates again if not for the plan to enact higher levies on imports, the Fed chief said.
Dow rallies, S&P 500 is flat as investors rotate out of tech to start new quarter: Live updates
The Dow Jones Industrial Average rose on Tuesday as investors rotated out of technology stocks to kick off the second half of 2025.
Figma files for IPO on Nasdaq, plans to 'take big swings' with M&A
Figma filed its IPO prospectus on Tuesday, as the design software vendor looks to raise money and awareness to take on Adobe.
The charts are showing this burger chain can soon blow through its all-time highs
Chart analyst Todd Gordon breaks down the technical outlook for this fast-casual food chain.
Apple sues former Vision Pro employee for allegedly stealing 'thousands of documents' before joining Snap
Apple has accused a former engineer for its Vision Pro headset computer of stealing trade secrets before starting a new job at Snap, according to a lawsuit.
'Big beautiful' Senate bill touts tax help for seniors on Social Security. How it would work
President Donald Trump has pitched no taxes on Social Security benefits. Republicans' "big beautiful" bill includes a provision to help offset those levies.
Tesla shares tumble after Trump says DOGE should look at Elon Musk's subsidies
Musk, who supported Trump's campaign and also served as an adviser to the White House, has criticized the tax and spending bill the president is pushing.
U.S. judge blocks Trump administration move to overhaul health agencies
A federal judge blocked the Trump administration from moving forward with plans to overhaul HHS by cutting its workforce and closing entire agencies.
Senate Republicans’ spending bill boosts child tax credit. Who stands to benefit
Senate Republicans passed a bigger child tax credit as part of Trump's spending package. If enacted, here is who stands to benefit.
Climate threat to U.S. infrastructure is accelerating. Here's what's most at risk
Climate risk to U.S. infrastructure is rising, and government cuts to climate science are only accelerating that risk.
Hedge fund billionaire Robert Citrone is making bold calls, including a correction starting about now
Citrone said President Donald Trump's tariff fights can stoke market volatility and trigger a significant drawdown in stocks.
Iraq Claims Top Spot Among OPEC Crude Suppliers To The US
Iraq Claims Top Spot Among OPEC Crude Suppliers To The US
Authored by Charles Kennedy via OilPrice.com,
Iraq exported nearly 7 million barrels of crude to the U.S. in May, surpassing all other OPEC members.
The surge in Iraqi shipments meets U.S. demand for heavier Middle Eastern crude grades amid OPEC+ output cuts.
Rising oil exports provide vital fiscal support for Iraq, where crude sales generate about 90% of government revenue.
OPEC’s second-largest producer, Iraq, was the single biggest supplier of crude from the cartel to the United States in May, per data from the U.S. Energy Information Administration (EIA) cited by Iraqi media outlets Shafaq News and IraqiNews.
Iraq ranked first among the 12 OPEC producers in terms of exports to the United States ...
RFK Jr. Unloads Disturbing Vaccine Secrets On Tucker... And Surprises Everyone On Trump
RFK Jr. Unloads Disturbing Vaccine Secrets On Tucker... And Surprises Everyone On Trump
Via VigilantFox.com,
It’s not every day an active HHS Secretary sits down for 90 minutes straight with Tucker Carlson.
But that’s exactly what happened, and Kennedy instantly seized Carlson’s attention with a chilling story of CDC corruption.
He revealed that the health agency buried a 1999 internal study led by researcher Thomas Verstraten, which showed an alarming 1135% increase in autism risk from the hepatitis B vaccine.
Kennedy said the researchers were “shocked” by the findings.
So what did they do? They covered it up, according to Kennedy.
“They got rid of all the older children essentially and just had younger children who are too young to be diagnosed [with autism].”
It’s not every day an active HHS Secretary sits down for 9 ...
Elon Musk's xAI Raises $10B As Trump Threatens To Unleash DOGE On Him
Elon Musk's xAI Raises $10B As Trump Threatens To Unleash DOGE On Him
Authored by Amin Haqshanas via CoinTelegraph.com,
Elon Musk’s artificial intelligence firm xAI secured $10 billion in fresh capital, doubling down on its challenge to OpenAI as the race to dominate the AI landscape intensifies. The funds were evenly split between secured debt and strategic equity investments.
The influx gives xAI more resources to expand its Memphis-based Colossus supercomputer and train its Grok chatbot, CNBC reported Tuesday, citing Morgan Stanley.
The funding round was reportedly oversubscribed, with major investors vying for stakes in Musk’s AI vision.
Musk’s AI push comes as American rivals race ahead. OpenAI closed a $40 b ...
Takeover Begins: Robots Set To Outnumber Humans At Amazon Warehouses
Takeover Begins: Robots Set To Outnumber Humans At Amazon Warehouses
Amazon hasn't set a public date for fully replacing warehouse workers with robots, but all indicators suggest a gradual transition is well underway, with significant workforce reductions likely, alongside productivity gains driven by automation and AI through the 2030s.
The Wall Street Journal reported that Amazon, the nation's second-largest private employer in the U.S., is quickly approaching a new milestone in warehouse automation: "There will soon be as many robots as humans." This equates to over a million robots.
Roughly 75% of Amazon's deliveries are now assisted by robotic systems, which perform tasks such as picking, sorting, packaging, and moving items. The rapid integration of robots, such as the advanced Vulcan, marks a significant step toward full automation for fulfillment centers.
"They're one step closer to that realization of the full integration of robotics," said Rueben Scriven, research manager at Interact Analysis, a robotics consulting firm.
Coal Ash Holds Unexpected Wealth in Rare Earth Elements
Millions of tons of coal ash are currently sitting in ponds and landfills across the United States. The U.S. alone produces around 110 million tons of this coal mining byproduct each and every year. The ponds that house this ash pose a major threat to the environments that host them, but they might also hold the secret to homeshoring vital supply chains for critical minerals. Last year, scientists at the University of Texas (UT) at Austin analyzed coal ash samples collected from power plants across the United States and found that domestic coal
Why BP Became Target of Biggest Potential Oil Deal in Decades
Reports and rumors have intensified this year that BP is in the crosshairs of rivals, especially Shell, for a potential takeover that would be the largest deal in the oil industry since the Exxon and Mobil merger in 1999. Five years of U-turns in strategy and the abrupt departure of the architect of the greener BP, Bernard Looney, have left investors unconvinced in the direction the UK supermajor is taking and whether it could at some point, finally convince shareholders and the market that it is a stock worth holding.
Ofgem Unveils 24 Billion Grid Modernization Plan
The UKs energy regulator has approved a 24bn investment to upgrade the UKs energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over 15bn is set to be deployed into the UKs gas transmissions and distribution systems to ensure a safe and secure supply of gas to households and businesses. Meanwhile, 8.9bn will be spent on expanding
Russias Oil Exports Stagnate as Prices Sink and Sanctions Bite
Russias seaborne crude oil shipments barely budged in late June, holding near two-month lows despite a modest uptick from major ports. In the four weeks to June 29, crude exports averaged 3.21 million barrels per day (bpd)up just 1% from the previous four-week period, according to Bloomberg tracking data. Weekly volumes sat around 3 million bpd, also little changed. While key terminals like Primorsk and Kozmino saw higher flows, declines from smaller portsincluding Novorossiysk and Murmansknearly canceled out the gains.
Sustainable Investment Stumbles on Uncertain Pace of Energy Transition
The sustainable investment bubble has burst, once again this century. This time it was the realization that the energy transition will be a slow gradual process of coal being replaced by natural gas and renewables gaining more share of electricity generation. This realization coincided with massive recent withdrawals from sustainable funds, due to the backlash against calls for blacklisting funding for fossil fuels, especially in Trumps America. The most recent decline in green energy investment isnt the first one of the 21st century.
Indonesia Wants Drilling Partners to Revive Oil Output from Old Wells
Indonesias new energy strategy entails attracting oilfield services providers with the latest technology to help the Southeast Asian country revive and increase production from ageing or idle wells. With a reform enacted, oil and gas block operators in Indonesia will be allowed to partner with drilling and service technology providers to raise production from old wells or oilfields, the countrys deputy energy minister Yuliot Tanjung said on Tuesday, as carried by Reuters. Currently, Indonesia produces about 600,000 barrels per day
Russia's War Economy Faces Imminent Recession
At Russias annual marquee event for business investment, a Kremlin-funded bubbly celebration of promise and opportunity, the countrys top economic minister poured cold war on the party. According to the numbers, yes, weve got a cooling down now, Maksim Reshetnikov said at the St. Petersburg International Economic Forum. Based on current business sentiment, it seems to me we are on the brink of transitioning into recession. If that wasnt enough of a damper, the head of the Russian Central Bank
India Launches Cobalt and Copper Exploration in Zambia
India is kicking off exploration efforts for cobalt and copper deposits in Zambia by sending a team of geologists to the African country known for its critical minerals reserves, sources at the Indian government told Reuters on Tuesday. In March this year, India bought land in Zambia to explore copper and cobalt, signaling a significant move to secure its mineral supply chains in Africa. Indias government has acquired greenfield land in Zambias northwest province with plans to explore copper and cobalt. Zambias economy is mainly
Oil Markets Refocus on OPEC as Iran-Israel Conflict Cools
Oil markets are now refocusing on OPEC+ as the Iran-Israel ceasefire continues to hold, with the cartel's meeting this weekend likely to be the next big market mover.- Ever since OPEC+ countries started to unwind their 2.2 million b/d worth of voluntary production cuts, the expectation was that Middle Eastern producers would start to flood the markets in order to re-gain market share.- Saudi Arabias June export numbers indicate that Saudi Aramco is doubling down on its production hikes, shipping 6.4 million b/d in seaborne
Iraq Claims Top Spot Among OPEC Crude Suppliers to the U.S.
OPECs second-largest producer, Iraq, was the single biggest supplier of crude from the cartel to the United States in May, per data from the U.S. Energy Information Administration (EIA) cited by Iraqi media outlets Shafaq News and IraqiNews. Iraq ranked first among the 12 OPEC producers in terms of exports to the United States in May. Shipments totaled nearly 7 million barrels of crude, 6.95 million barrels to be precise. The second-largest OPEC supplier to the U.S. was Nigeria with 6.803 million barrels of crude oil exports, followed by
OPEC Tensions Build as Kazakhstan's Oil Production Hits All-Time High
Kazakhstans crude oil output jumped 7.5% in June to 1.88 million barrels per day (bpd), matching the countrys all-time high set in March, according to figures leaked to Reuters. This puts Kazakhstan well over its official OPEC+ quota of 1.5 million bpd, and continues a pattern of months-long noncompliance thats frustrating the groups core membersespecially Saudi Arabia. Total oil and condensate production rose to 2.15 million bpd in June, up from 2.02 million in May. Most of the increase came from Tengizthe
U.S. Utilities Face Peak Demand Uncertainty With Data Center Boom
Electric utilities in the United States face a high degree of uncertainty over future revenues as the boom of AI data centers generates widely varying forecasts of peak demand in many areas across the country. U.S. power utilities are investing a record amount of money into transmission and grid connection, but current forecasts of AI-driven power demand vary so much that there is a massive margin of error, analysts and utility officials have told Reuters Events. The U.S. market faces a moment of peak uncertainty, according to Rebecca
UK Regulator Approves $33-Billion Investment in Gas and Power Grids
Britains energy regulator, Ofgem, has given the provisional green light to an investment program of $33 billion (24 billion) to maintain essential gas distribution networks and expand the power grid in a move to boost energy security and allow more renewables to enter the electricity system. A total of $20.7 billion (15 billion) will ensure the continued safe operation of Great Britains gas transmission and distribution networks, making sure they deliver safe and secure supplies of gas to households and businesses across
Equinor Invests $1.3 Billion to Expand Europes Biggest Oilfield
Equinor and its partners have decided to invest $1.3 billion (13 billion Norwegian crowns) in the Phase 3 expansion of the Johan Sverdrup oilfield in the North Sea, Western Europes biggest oil-producing field. The Phase 3 development plan includes two new subsea templates, which will be tied into existing infrastructure via new pipelines. The investment will increase recoverable volumes from the field by 4050 million barrels of oil equivalent (boe), with production expected to start in late 2027, Equinor said on Tuesday. Last year,
Saudi Aramco Set to Raise Oil Prices to Asia Amid Strong Demand
Saudi Arabia is expected to raise the price of its flagship crude loading for Asia in August to a four-month high as demand strengthens in the summer and buyers seek more term supplies amid volatile spot prices. Saudi oil giant Aramco, the worlds top crude exporter, is set to raise the price of its Arab Light crude in Asia for August by between $0.50 and $0.80 per barrel to up to $2.00 a barrel over regional benchmarks, according to a Reuters survey of five Asian refining sources. Last month, Saudi Arabia reduced its official selling prices
TSB name could disappear from UK in Santander deal
The bank is set to be integrated into Santander UK which has said there could be job cuts.
Two-year wait for several new workplace rights
Some measures within the Employment Rights Bill are not due to come into force until 2027.
M&S should be 'fully online' within four weeks, says boss
The retailer continues to recover from a cyber attack that is expected to hit profits by £300m.
Ellenbarrie Industrial shares soar 10% after listing debut. Should you buy, sell or hold?
Ellenbarrie Industrial shares: The Kolkata-based firm, engaged in the production and supply of industrial, medical, and specialty gases, made its market debut at Rs 492 on the BSE—23% above its IPO issue price of Rs 400. On the NSE, the stock opened at Rs 486, marking a 21.5% premium. Both listings exceeded the grey market premium estimate of Rs 457.
Shadowfax Technologies files confidential draft IPO papers; seeks to raise up to Rs 2,500 cr
Shadowfax Technologies, a leading Indian logistics service provider, has confidentially filed a draft red herring prospectus with SEBI for an IPO. The IPO is expected to raise between Rs 2,000 – Rs 2,500 crore through a fresh issue and offer for sale, valuing the company around Rs 8,500 crore.
Gold Rate Today: Yellow metal rises to Rs 96,790/10 gms on weaker dollar, tariff uncertainty ahead of July 9 deadline
On Monday, Trump voiced frustration over U.S.-Japan trade talks, while U.S. Treasury Secretary Scott Bessent cautioned that countries might face significantly higher tariffs as the July 9 deadline nears, despite ongoing good-faith negotiations.
Elon Musk takes us for fools as he renews his verbal assault on Trump
Eight months ago, Elon Musk told you he could cut “$2 trillion” from the $6.7 trillion federal budget. We told you it was baloney. We were right.
Apple Health, MassHealth, Cardinal Care? You may be on Medicaid and not even know it.
How many people who are watching the current budget battle over Medicaid don’t even realize they’re on Medicaid?
This question could change the course of Trump’s trade war — if only we would ask it
Are Trump’s tariffs ethical? By any measure, no — but here’s how they could be.
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