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From Yahoo Finance: 2025-07-01 17:04:00

President Donald Trump’s U.S. fiscal bill passed the Senate, extending tax cuts and adding new breaks. Analysts estimate the bill will add $3.3 trillion to the national debt. The bill heads to the House for approval, with hopes of becoming law by July 4. The Federal Reserve remains cautious about cutting interest rates. Markets await upcoming economic data to determine the rate path. The dollar fell against major currencies, while Wall Street saw mixed results, with the Nasdaq and S&P 500 dropping and the Dow inching closer to a record high. Tesla faced a 5% stock drop after Trump threatened to cut subsidies for the company. Musk criticized the bill that would eliminate electric vehicle purchase subsidies. Tomorrow’s market movers include job data and Tesla’s quarterly deliveries.



Read more at Yahoo Finance: Sweeping US fiscal bill advances, rate path stays murky