Mixed day in the stock market as S&P 500 slipped 0.1%, Nasdaq fell 0.8%, Dow gained 0.9%

From Yahoo Finance: 2025-07-01 18:05:00

Investors watch closely as Congress aims to approve a GOP tax and spending bill. The S&P 500 slipped 0.1% after the Senate passed the bill. Tesla stock fell due to a dispute between Elon Musk and President Trump. Casino operators’ shares rose after Macau reported better-than-expected gaming revenue growth in June.

Major U.S. equities indexes were mixed after the Senate passed a major tax and spending bill with significant cuts and increases. The S&P 500 slipped 0.1%, the Nasdaq fell 0.8%, and the Dow gained 0.9%. Williams Companies stock dropped 6.5% due to executive shakeup, while Axon Enterprise shares declined 6.4%.

Tesla stock lost 5.3% as tensions resurfaced between Elon Musk and President Trump over subsidies. Casino operators’ shares surged after Macau reported a gaming revenue increase in June. The National Association of Realtors highlighted positive provisions in the Senate’s tax and spending bill for the housing market.

Packaging Corporation of America shares rose 7.6% after announcing a $1.8 billion deal to buy Greif’s containerboard business. The deal includes two mills with an annual production capacity of 800,000 tons. Builders FirstSource stock jumped 8.8% on optimism about the housing market and lower mortgage rates.

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