Mixed day on Wall Street as Senate passes Trump's tax bill, tech sell-off and Trump-Musk feud

From Financial Modeling Prep: 2025-07-02 06:30:00

U.S. stock futures remained flat as markets reacted to the Senate’s passage of Trump’s tax bill. Tech sell-off and Trump-Musk rift added pressure on high-growth stocks. Futures cautiously rose ahead of the July 9 tariff deadline, with S&P 500 up 0.1%, Nasdaq 100 up 0.1%, and Dow Jones up 0.1%.

The Senate narrowly approved Trump’s tax bill, expected to increase U.S. debt by $3.3 trillion over a decade. The bill heads to the House for approval, with Trump aiming to sign it by July 4. Investors can track macroeconomic impact with the Economics Calendar API.

Tesla shares slumped 5.3% as Trump criticized Musk for government subsidies. The feud dragged down NASDAQ Composite by 0.8%, adding volatility for Tesla investors. Stay updated on Tesla’s earnings and guidance shifts with the Earnings Calendar API for U.S. companies.

In Tuesday’s regular session, S&P 500 fell 0.1%, NASDAQ dropped 0.8%, and Dow Jones gained 0.9% on strength in industrials and financials. Investors are watching for Powell’s rate cut stance, July 4 tax bill signing, July 5 shortened trading session, and July 9 tariff deadline for trade agreements.

Markets are navigating political drama, fiscal policy changes, and trade negotiations cautiously. Real-time earnings updates and macroeconomic insights will be crucial in managing volatility and staying informed.



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