Daily Newsletter 7/1/25

U.S. stock markets are slightly lower this morning after closing at record highs on Monday. S&P 500, Nasdaq, and Dow futures are all down modestly in pre-market trading.

This comes after a strong session driven by Big Tech gains and optimism over global trade talks, with the S&P 500 and Nasdaq both reaching new all-time highs to start the week.

President Trump’s “big beautiful bill”—a sweeping GOP domestic policy package—faces intense Senate debate, with Democrats opposed and some Republicans concerned about deep social spending cuts and rural healthcare impacts. The bill would add an estimated $3.3 trillion to the deficit over ten years, largely benefiting high earners. Senate Republicans aim to pass it before July Fourth, but its fate remains uncertain amid ongoing negotiations and divisions.