After a week of trade flare-ups and record-breaking stock market highs, Wall Street debates the Federal Reserve’s next move amidst trillion-dollar valuation milestones for Nvidia. Some firms expect a September rate cut, while others warn of tariffs and inflation risks impacting the Fed’s decision. President Trump continues his public campaign for lower rates, adding to ongoing political pressure. Economists cite lingering inflation risks, with the next major test being the Consumer Price Index release. The Fed appears divided on rate cuts, with traders pricing in a 60% chance of a September cut. Uncertainty remains as the Fed navigates policy limbo. 1. The U.S. economy added a robust 850,000 jobs in June, exceeding expectations and marking a significant rebound from the pandemic-induced slowdown. The unemployment rate also ticked up slightly to 5.9%, as more people entered the labor force in search of work.

2. In a landmark ruling, the Supreme Court upheld the Affordable Care Act, preserving health coverage for millions of Americans. The decision came in a 7-2 vote, with the majority of justices agreeing that the plaintiffs challenging the law lacked standing to do so.

3. Pfizer announced that its COVID-19 vaccine is effective against the Delta variant, which is rapidly spreading around the world. The company also stated that a third booster shot may be necessary to maintain high levels of protection against the variant.

4. The European Union unveiled a sweeping climate change plan that aims to cut carbon emissions by at least 55% by 2030. The plan includes measures to incentivize green investments, promote renewable energy sources, and impose stricter regulations on polluting industries.

5. Simone Biles made history by becoming the first woman to land a Yurchenko double pike in competition at the U.S. Gymnastics Championships. The move, which involves two flips and a twist while vaulting off the balance beam, earned Biles high praise from fellow gymnasts and fans alike.

Read more at 1. Tesla reports record profits in first quarter of 2021. – finance.yahoo.com
2. Jobless claims drop to lowest level since pandemic began. – finance.yahoo.com
3. Apple announces plans to invest $430 billion in US economy. – finance.yahoo.com: Wall Street divided on Fed rate cuts as tariff uncertainty lingers