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Top Stories
Senate Narrowly Approves Trump's Massive Tax and Spending Bill
The US Senate passed President Trump's "Big Beautiful Bill," a $3.3 trillion tax and spending package, with Vice President Vance casting the tie-breaking vote. The bill now moves to the House for final approval, potentially impacting taxes, energy, and healthcare.
Asian Manufacturing PMIs Show Mixed Results; China Beats Expectations
China's Caixin Manufacturing PMI rose to 50.4 in June, beating forecasts. Other Asian countries showed mixed results, with Japan, Philippines, and South Korea improving, while Indonesia and Vietnam declined. Most PMIs hovered around the 50-point mark.
Musk Vows New Party as Senate GOP Battles Over Trump's Trillion-Dollar Bill
Elon Musk threatens to form the "America Party" if Trump's controversial spending bill passes, criticizing it as "debt slavery." Senate Republicans push forward with the $3.8 trillion bill amid fierce debate and intraparty divisions, while seeking to soften renewable energy subsidy cuts.
ECB Cautious on Euro Strength, Keeps Options Open Amid Economic Uncertainty
ECB's de Guindos states euro at $1.17 is acceptable, but beyond $1.20 is complicated. ECB must keep options open, with inflation close to target. Economic risks are tilted downward, and further rate cuts may not help. Uncertainty remains high.
Company News
Tesla, Inc. (TSLA)
Performance Overview
1D Change: -5.32%
5D Change: -11.68%
News Volume: 457
Unusual Volume Factor: 2x
Trump-Musk Feud Erupts Over Spending Bill, Sending Tesla Stock Plunging Amid Subsidy Threats
President Trump has reignited his feud with Elon Musk, threatening to cut subsidies to Tesla and other Musk companies. Trump suggested having DOGE (Department of Government Efficiency) review Musk's subsidies and even hinted at potentially deporting the Tesla CEO.
Full coverage of $TSLA on MarketFlux.io
Ford Motor Company (F)
Performance Overview
1D Change: 4.66%
5D Change: 5.78%
News Volume: 34
Unusual Volume Factor: 2x
Ford Reports Mixed Q2 Results: Strong Overall Sales Growth Overshadowed by EV Setbacks
Ford Motor Company has reported a significant 14.2% increase in U.S. auto sales for the second quarter of 2025, outpacing industry forecasts. This surge in sales has led to a jump in Ford's stock price, alongside other automakers like GM.
Full coverage of $F on MarketFlux.io
Netflix, Inc. (NFLX)
Performance Overview
1D Change: -3.41%
5D Change: 1.16%
Netflix's Valuation Concerns Overshadowed by "Squid Game" Success and NASA Partnership
Netflix's soaring valuation is causing concern even among bullish investors, highlighting a dilemma for stakeholders. Despite this, the streaming giant continues to make waves in the industry.
Full coverage of $NFLX on MarketFlux.io
Wynn Resorts, Limited (WYNN)
Performance Overview
1D Change: 8.88%
5D Change: 12.04%
Macau Gaming Boom Propels Wynn Resorts Stock to Sharp Gains
Macau's gaming industry is experiencing a remarkable resurgence, with June revenue soaring to 21.06B patacas, a 19% year-over-year increase. This surge beat estimates by 7-9% and reached 88% of pre-COVID June 2019 levels, signaling a robust recovery.
Full coverage of $WYNN on MarketFlux.io
Other News
Geopolitics Events
Musk and Trump Clash Over Spending Bill, Igniting Political Debate and EV Policy Tensions
Elon Musk has intensified his criticism of Donald Trump's spending bill, calling it "insane" and suggesting the need for a new political party. This comes despite Musk's previous endorsement of Trump for president. Trump responded by highlighting his stance against EV mandates and questioning the subsidies Musk's companies received. The clash has sparked discussions about political realignment and the potential for primary challenges against Republicans who supported the bill.
Senate Narrowly Passes Trump's $3.3 Trillion "Big Beautiful Bill" in Contentious Vote, Setting Stage for Final House Showdown
In a significant legislative victory for President Donald Trump, the U.S. Senate has passed his sweeping $3.3 trillion tax-cut and spending bill, dubbed the "One Big Beautiful Bill Act." The legislation squeaked through with a 51-50 vote, with Vice President JD Vance casting the crucial tie-breaking vote after more than 24 hours of amendment debates. The bill, which combines corporate tax cuts with infrastructure spending, now moves to the House of Representatives for final approval before potentially reaching the President's desk.
Trump Stands Firm on July 9th Tariff Deadline, Threatens High Tariffs on Japan
President Trump has made strong statements regarding trade negotiations with Japan, asserting he's not considering an extension of the July 9th tariff deadline. Trump expressed doubt about reaching a deal with Japan, suggesting they could face tariffs of 30% to 35%. This hardline stance indicates a potential escalation in trade tensions between the U.S. and Japan. Trump's comments have raised concerns about the impact on global trade relations and financial markets. While focusing on Japan, Trump also mentioned the possibility of a deal with India, hinting at a broader strategy in his trade negotiations with various countries.
U.S. Job Openings Unexpectedly Surge to 7.769 Million in May, Highest Since November
In a surprising turn of events, U.S. job openings in May surged to 7.769 million, significantly exceeding the estimated 7.300 million and the previous month's 7.395 million. This marks the highest level since November, showcasing the resilience of the labor market. The private sector led the increase with 6.936 million openings, up from April's 6.562 million. While openings rose, hiring slightly decreased to 5.503 million from 5.615 million in April. The quits rate edged up to 2.1% from 2.0%, indicating growing worker confidence. Total separations decreased to 5.242 million. Despite the unexpected rise in job openings, experts suggest the labor market is normalizing, with wage growth similar to 2019/mid-2021 levels and no immediate signs of recession.
Thai PM Paetongtarn Shinawatra Suspended Amid Ethics Probe, Throwing Government into Uncertainty
Thailand's political landscape has been thrown into turmoil as the Constitutional Court voted to suspend Prime Minister Paetongtarn Shinawatra from office. The court's decision comes amid an ethics investigation related to a leaked phone call with a Cambodian leader. This suspension marks a significant blow to Shinawatra's government, which has been in power for less than a year. The move has sparked concerns about political stability in Thailand, with China urging for calm. Despite the suspension, the Thai government insists it will continue to function, with Deputy PM Suriya expected to become caretaker premier. The situation has drawn international attention, highlighting the ongoing challenges facing Thailand's youngest prime minister and her political dynasty.
Macron and Putin's First Call Since 2022: Ukraine Ceasefire Urged, Iran Coordination Agreed
French President Macron and Russian President Putin held their first phone call since 2022, discussing Ukraine, the Middle East, and Iran. Macron called for a ceasefire in Ukraine and negotiations to end the conflict, while agreeing to coordinate on Iran.
Trump Confident in Fiscal Bill Progress, Promises Economic Growth and Deficit Reduction
President Trump expressed optimism about the progress of a fiscal bill, stating "we're going well" and signaling confidence in its passage. The bill aims to slash deficits and national debt while promoting economic growth. Trump emphasized the potential for no tax on Social Security, though the actual bill may differ. Despite his dislike for cuts, Trump believes the legislation will ultimately be approved, potentially boosting short-term market sentiment.
Musk-Trump Subsidy Spat Sends Tesla Stock Tumbling as CEO Dares Government to "Cut it All"
Elon Musk and Donald Trump have reignited their feud, causing Tesla's stock to tumble. Trump suggested that the Defense Department should review subsidies given to Musk's companies, including Tesla, to save federal funds. Musk responded defiantly, saying "Cut it all. Now." The clash has raised concerns about potential impacts on Tesla's government contracts and subsidies. Ross Gerber criticized Musk for enabling Trump and called out Tesla's board for remaining silent on the "absurd attack." The ongoing dispute has put pressure on Tesla's stock and highlighted the complex relationship between Musk's businesses and government support.
Netanyahu to Meet Trump in Washington: Trade Talks on the Horizon
Israeli PM Netanyahu announces plans to visit Washington next week for meetings with President Trump and other officials. Trade agreement discussions are on the agenda, with some details still to be finalized.
Senate GOP Claims Victory: Thune Announces Sufficient Votes for Trump Tax Bill Passage
Senate Republican Leader John Thune has confidently announced that the GOP has secured enough votes to pass the Trump tax bill. This development signals a significant breakthrough in legislative efforts, potentially accelerating the bill's passage. The news is likely to boost market sentiment, as it suggests imminent corporate tax relief and possible economic stimulus. Investors and businesses are closely watching this unfolding story.
Trump-Musk Feud Escalates: Threats to Tesla and SpaceX as Political Tensions Rise
The Trump-Musk feud intensifies as Musk criticizes Republican legislation and considers starting a new party. Trump retaliates by threatening to withdraw support for Tesla and SpaceX, even suggesting deportation. This escalating conflict highlights the strained relationship between the former allies.
Trump Pledges to Refill Strategic Oil Reserve at Opportune Time
President Trump announces plans to replenish the Strategic Petroleum Reserve when market conditions are favorable, aiming to bolster U.S. energy security.
US Races to Secure Trade Deals as Trump's Tariff Deadline Looms
The US is narrowing its trade focus to secure deals before Trump's tariff deadline, according to the Financial Times. This move aims to finalize agreements ahead of potential new trade restrictions.
China Targets Price Wars and Market Unity to Boost Domestic Economy
China's leadership, led by President Xi, pledges to curb aggressive price competition and regulate government procurement to foster a unified national market. The initiative aims to boost domestic demand, improve product quality, and support businesses with domestic sales. Xi emphasizes the importance of advancing a high-quality marine economy while maintaining openness both domestically and internationally.
US Manufacturing Sector Strengthens in June, Outpacing Forecasts
US manufacturing PMI for June surpasses expectations, rising to 52.9 from 52.0 in May. Brazil's manufacturing PMI declines to 48.3. US Redbook year-over-year sales increase to 4.9%.
U.S. Job Market Sends Mixed Signals: Openings Up, Hiring Down
U.S. job openings unexpectedly rose to 7.769 million in May, reaching a 6-month high. However, hiring rates fell, indicating a slowdown in employment growth. Meanwhile, factory activity contracted for the fourth consecutive month in June, with declining orders and employment rates.
French PM Bayrou Survives No-Confidence Vote as Far Right Abstains
French Prime Minister Bayrou survived a no-confidence motion over pension reform, as the far-right party led by Marine Le Pen abstained from voting. The minority government narrowly avoided collapse due to this abstention.
Trump Vows to Press Netanyahu on Gaza War, Backs Farm Labor, and Addresses Iran Relations
Former President Trump addressed multiple issues, including the Israel-Gaza conflict, Iran relations, and U.S. agriculture. He pledged to be firm with Netanyahu on ending the war, expressing optimism for a deal next week. Trump also discussed supporting farmers through immigration carveouts for laborers. On Iran, he hoped for improved relations while noting the impact of sanctions. Additionally, Trump mentioned monitoring a figure named Mamdani and criticized Fed Chair Powell.
Solar Stocks Soar as Senate Scraps Clean Energy Tax from Trump's Bill
Solar company stocks surged after the Senate removed an excise tax on wind and solar projects from President Trump's tax bill. This decision boosted investor confidence in clean energy firms.
Trump Tours 'Alligator Alcatraz': Everglades Detention Center Spotlighted as Immigration Model
President Trump visits a temporary immigrant detention center in Florida's Everglades, nicknamed "Alligator Alcatraz." He's promoting the facility as a model for future prisons and deportation camps, emphasizing its role in addressing illegal immigration ahead of a crucial bill deadline.
Trump's Surprising "No Cuts" Tax Stance Signals Potential GOP Policy Shift
President Trump unexpectedly shifted tone on the tax bill, stating he "doesn't like cuts." This departure from traditional GOP stance suggests a potential pivot towards increased spending, possibly with an eye on upcoming elections. Despite this, Trump remains confident the bill will pass.
Judge Halts Trump's Health Agency Overhaul
A U.S. judge has blocked the Trump administration's plan to restructure and overhaul health agencies, including the Department of Health and Human Services.
Trump Promises Vigilant Watch Over "Communist" Mamdani, Sparking Policy Debate
Trump labels Mamdani a "communist" and vows close scrutiny, potentially stirring debate on economic policy and regulation. This rhetoric may have limited direct market impact but could intensify political tensions.
Pentagon Pauses Missile Shipments to Ukraine Amid U.S. Stockpile Concerns
The Pentagon has halted shipments of certain air defense missiles and precision munitions to Ukraine, citing concerns over depleted U.S. weapons stockpiles. This decision affects some previously promised munitions, potentially impacting Ukraine's defense capabilities.
Stock Markets Events
S&P 500 Enters Second Half of 2025 with Cautious Optimism After Strong Q2 Rally
The stock market is entering the second half of 2025 with mixed signals after a strong second quarter. The S&P 500 posted its best quarter since Q4 2023, surging 10.6% in Q2 2025, driven by robust tech earnings, easing inflation, and AI optimism. However, futures are slipping as traders digest recent gains and prepare for potential challenges ahead. Tesla shares are under pressure due to struggling European sales and a reported feud between Elon Musk and Donald Trump. Analysts are divided on the market's future trajectory, with Goldman Sachs predicting continued rally for a few weeks before losing steam in August. Historically, July has been the strongest month for the S&P 500, averaging a 1.67% gain since 1928. Investors are closely watching several key factors, including inflation data, corporate earnings, and potential economic headwinds. Despite the recent rally, some experts warn of potential volatility in the coming months. As the market navigates this crucial juncture, traders and investors remain cautiously optimistic while preparing for various scenarios in the second half of 2025.
Market Mixed: Dow Climbs, S&P 500 and Nasdaq Retreat from Records Amid Tech and Hotel Stock Shifts
The stock market experienced mixed performance as the S&P 500 and Nasdaq retreated from record highs, while the Dow Jones climbed. Tesla's stock slipped amid a Trump-Musk feud, and hotel stocks shone. Apple reportedly considered AI upgrades for Siri, while Wolfspeed filed for bankruptcy. The market reacted to Fed Chair Powell's speech and proposed Medicare rule changes, showcasing ongoing volatility and sector-specific movements.
Technology Events
Cloudflare Blocks AI Scrapers, Unveils Monetization Tool for Websites
Cloudflare introduces default blocking of AI bots from scraping content and launches a marketplace for websites to monetize AI bot access, revolutionizing content protection and data monetization strategies.
Microsoft Scores AI Deal with Premier League, Enhancing Fan Experience
Microsoft inks 5-year deal with Premier League, integrating AI into fan app. The partnership showcases Microsoft's cloud computing and AI capabilities to millions of soccer enthusiasts worldwide.
Xiaomi's EV Ambitions Hit Roadblock: YU7 Buyers Face Extended Delivery Delays
Xiaomi's YU7 electric SUV buyers face over a year-long wait for delivery, triggering customer complaints. The Chinese tech giant's foray into the EV market faces challenges with production delays.
Senate Removes AI Regulation Ban from Trump's Tax Bill
The U.S. Senate voted to remove a provision from Trump's tax-cut and spending bill that would have banned state-level AI regulation. This decision could potentially impact AI companies and their operations.
Meta Boosts WhatsApp with AI and Voice Calling for Business Growth
Meta enhances WhatsApp for businesses with centralized marketing campaigns, AI-powered product recommendations, and voice calling features. These updates aim to improve customer engagement and streamline advertising solutions.
Columbia University Hit by Data Breach: Applicants' Personal Info Stolen
Columbia University suffered a data breach in June, with a hacker stealing personal information of students and applicants. The incident was revealed through a Bloomberg News review of the stolen data.
Tesla's Nordic Nightmare: Danish Registrations Plummet 62% in June
Tesla faces significant sales decline in Nordic countries, with Denmark registrations dropping 61.6% in June compared to last year.
Fixed Income And Interest Rates Events
Fed Chair Powell Signals Potential Rate Cuts Later This Year, Warns of Unsustainable U.S. Debt Path
Federal Reserve Chair Jerome Powell has signaled a potential shift in monetary policy, indicating that a "solid majority" of Federal Open Market Committee (FOMC) participants deem it appropriate to cut interest rates later this year. Speaking at an ECB panel, Powell emphasized that no FOMC meeting is off the table for potential rate cuts, including July, though he couldn't definitively say if July would be too soon. The decision, he stressed, will depend on incoming economic data.
Treasury Secretary Bessent Pushes Tax Bill Vote Amid Criticism of Market-Timing Tactics
Treasury Secretary Bessent is pushing for a tax bill vote, claiming it benefits working people and pays for itself. He's also planning to discuss trade deals soon. Critics argue Bessent's approach to Treasury issuance is risky, likening it to hedge fund tactics. Meanwhile, bank stocks are surging globally, influenced by lower interest rates.
ECB's Muller Advocates for Steady Interest Rates, Downplays Euro Concerns
ECB's Muller suggests interest rates should remain steady for now, with no changes needed in July. He notes the euro's appreciation is rapid but not concerning, and the ECB can afford to maintain current rates for some time.
Treasury Yields Plummet to Two-Month Low as Powell's Speech Looms
Treasury yields hit a two-month low before Fed Chair Powell's speech, amid mounting political pressure for rate cuts. Investors are closely watching the upcoming jobs report for further economic insights.
Treasury Yields Dip, ECB Bond Purchases Surge, and BoE Hints at Rate Cuts Amid Global Economic Shifts
US Treasury yields hit a two-month low as investors await Fed Chair Powell's speech amid calls for rate cuts. The ECB reported significant bond purchases, while European junk bond issuance reached record levels. Worldline's bonds face scrutiny amid fraud allegations. Meanwhile, the Bank of England's Bailey suggests a downward trend in interest rates, reflecting shifting monetary policies across major economies.
Macro Events
Fed Chair Powell Signals Potential Rate Cuts Later This Year, Warns of Unsustainable U.S. Debt Path
Federal Reserve Chair Jerome Powell has signaled a potential shift in monetary policy, indicating that a "solid majority" of Federal Open Market Committee (FOMC) participants deem it appropriate to cut interest rates later this year. Speaking at an ECB panel, Powell emphasized that no FOMC meeting is off the table for potential rate cuts, including July, though he couldn't definitively say if July would be too soon. The decision, he stressed, will depend on incoming economic data.
US Manufacturing Shows Mixed Signals: ISM PMI Rises but Key Components Weaken, Inflation Pressures Persist
The latest US manufacturing data presents a mixed picture of the economy. The ISM Manufacturing PMI rose to 49.0 in June, surpassing expectations of 48.8 and the previous month's 48.5. However, it remains below the 50-mark, indicating contraction. The S&P Global Manufacturing PMI came in at 52.9, higher than the forecast of 52.0. New orders fell to 46.4, while employment dropped to 45.0, both below expectations. Prices paid increased to 69.7, suggesting persistent inflationary pressures. Construction spending declined by 0.3% in May, worse than the anticipated 0.2% drop. The mixed data points to ongoing challenges in the manufacturing sector, with some signs of improvement but continued weakness in key areas. Experts note that headcount reductions are continuing amid trade uncertainties, and the impact of tariffs is still being felt. The conflicting indicators have led some analysts to suggest the economy may be experiencing stagflation-like conditions, with soft growth and sticky inflation.
Trump Stands Firm on July 9th Tariff Deadline, Threatens High Tariffs on Japan
President Trump has made strong statements regarding trade negotiations with Japan, asserting he's not considering an extension of the July 9th tariff deadline. Trump expressed doubt about reaching a deal with Japan, suggesting they could face tariffs of 30% to 35%. This hardline stance indicates a potential escalation in trade tensions between the U.S. and Japan. Trump's comments have raised concerns about the impact on global trade relations and financial markets. While focusing on Japan, Trump also mentioned the possibility of a deal with India, hinting at a broader strategy in his trade negotiations with various countries.
Eurozone Inflation Hits ECB's 2% Target, Signaling Shift in Economic Focus
Eurozone inflation rose to 2% year-on-year in June, meeting the European Central Bank's target and signaling the end of runaway prices. The preliminary data showed core inflation holding steady at 2.3%. This slight uptick from May's 1.9% suggests a stabilizing economic environment, shifting focus to potential trade war impacts. Monthly inflation increased by 0.3%, matching expectations. The ECB's inflation expectations for the next year and three years were revised downward. This data may influence the ECB's decision-making on interest rates, potentially supporting a hold on further hikes.
Powell's Ambiguity on Rate Cuts Sparks Market Optimism Amid Global Central Bank Deliberations
Federal Reserve Chair Jerome Powell's recent comments have stirred market speculation about potential interest rate cuts. Powell stated he "can't say" if July is too soon for a rate cut, leaving the possibility open and causing short-term U.S. interest-rate futures to rise. This ambiguity has kept market hopes alive for a near-term policy shift. Meanwhile, Treasury yields have been volatile, initially rising after manufacturing and JOLTS data, but later flattening across the curve. The European Central Bank (ECB) and Bank of England (BOE) also weighed in on monetary policy, with ECB's Muller suggesting rates may stay on hold for a while, and BOE's Bailey indicating a downward direction for interest rates. The global economic landscape remains complex, with central banks carefully navigating inflation concerns and economic growth.
Dutch Retail Growth and Indonesian Trade Surplus Highlight Mixed Economic Data Across Regions
Dutch retail sales grew 2.2% year-on-year, while inflation in the Netherlands rose 3.1% annually in June. Indonesia's May exports surged 9.68%, surpassing expectations, with a trade surplus of $4.3 billion. Goldman Sachs revised its Fed rate cut forecast, now predicting three 25bp cuts in 2025. Indonesian annual inflation hit 1.87% in June, slightly above projections.
ECB's Muller Advocates for Steady Interest Rates, Downplays Euro Concerns
ECB's Muller suggests interest rates should remain steady for now, with no changes needed in July. He notes the euro's appreciation is rapid but not concerning, and the ECB can afford to maintain current rates for some time.
ECB's Kazaks: Export Risks Loom, Future Rate Cuts Likely Small
ECB's Kazaks warns that a 10% US tariff and 10%+ Euro appreciation could significantly harm exports. He suggests any future rate cuts would be minimal, indicating a cautious approach to monetary policy adjustments in response to economic challenges.
ECB's Nagel: Inflation Calm, Euro Stable, Tariff Talks Hopeful
ECB's Nagel states inflation is stable, monetary policy is neutral, and the euro isn't overvalued against the dollar. He hopes for a positive resolution to tariff discussions, indicating economic optimism.
The US is narrowing its trade focus to secure deals before Trump's tariff deadline, according to the Financial Times. This move aims to finalize agreements ahead of potential new trade restrictions.
Treasury Yields Dip, ECB Bond Purchases Surge, and BoE Hints at Rate Cuts Amid Global Economic Shifts
US Treasury yields hit a two-month low as investors await Fed Chair Powell's speech amid calls for rate cuts. The ECB reported significant bond purchases, while European junk bond issuance reached record levels. Worldline's bonds face scrutiny amid fraud allegations. Meanwhile, the Bank of England's Bailey suggests a downward trend in interest rates, reflecting shifting monetary policies across major economies.
BoJ's New Board Member Masu Urges Caution on Rate Hikes, Echoes Inflation Concerns
Bank of Japan's new board member Masu aligns with the BoJ's stance that underlying inflation remains below the 2% target. He advocates for a cautious approach to raising rates and unwinding ETF holdings, citing potential market impacts. Masu emphasizes the need to scrutinize price movements, particularly after the recent rice price spike moderates, and expresses a neutral stance on monetary policy, describing himself as neither hawkish nor dovish.
US Shifts Trade Focus: India Prioritized Over Japan in Tariff Talks
The Trump administration is prioritizing India and other nations over Japan in upcoming tariff negotiations ahead of a July 9 deadline. This decision, revealed by a White House source to Nikkei, suggests a shift in US trade strategy and potential implications for global economic relations.
IMF Lowers Swiss Growth Outlook, Warns of External Economic Risks
IMF revises Swiss economic growth forecast to 1.3% for 2025 and 1.2% for 2026. Inflation projections are 0.1% by end-2025 and 0.6% by end-2026. External risks, including geopolitical tensions and trade uncertainties, loom over the Swiss economy.
Central Bankers Convene at Sintra Summit: ECB Signals Cautious Optimism Amid Economic Challenges
Central bankers from the ECB, Fed, BOJ, and others gathered at the Sintra Summit to discuss monetary policy. ECB officials expressed cautious optimism, with Müller suggesting a pause in rate changes and Kazāks hinting at a potential "insurance cut." Lagarde emphasized the ECB's readiness to navigate challenges, stating they've reached their target but aren't declaring "mission accomplished." The summit highlights ongoing efforts to manage inflation and economic stability across major economies.
US Economy Displays Resilience Amid Mixed Economic Data
US economic indicators show mixed signals. Job openings surpassed estimates at 7.769M, while construction spending declined slightly. Manufacturing indices improved, with ISM rising to 49 and S&P PMI reaching 52.9. The federal funds rate remained steady at 4.33%.
Fed's Powell: U.S. Economy "Pretty Good" Despite Mixed Signals, Inflation Concerns
Fed Chair Powell states the U.S. economy is in a "pretty good position" with cooling inflation and resilient labor markets. He expects higher inflation readings over summer but notes it's behaving as expected if tariffs are ignored. Powell suggests the Fed is "on hold" while assessing economic conditions, indicating no immediate policy changes.
Fed Chair Powell Brushes Off Trump's Criticism, Reaffirms Focus on Central Bank's Mission
Federal Reserve Chair Jerome Powell responded to recent attacks from President Trump by emphasizing his unwavering focus on his job. During a panel discussion in Sintra, Portugal, Powell maintained the Fed's data-driven approach to policy decisions, free from political influence. He acknowledged the importance of 2025, hinting at the complex economic and political landscape ahead. Powell's comments reaffirm the Fed's commitment to its mission and independence in the face of mounting pressure.
Trump Blasts Fed Chair Powell, Claims "Anybody Would Be Better"
Trump criticizes Fed Chair Jerome Powell, asserting that anyone would be a better choice for the position, highlighting his ongoing dissatisfaction with Powell's leadership.
ECB Signals Minimal Future Rate Changes, Downplays Economic Impact
ECB officials Kazaks and de Guindos suggest future rate adjustments will be minimal, with de Guindos stating additional cuts won't significantly improve the economy.
Asian Manufacturing Struggles Amid US Tariff Uncertainty
Asian factory activity declined in June due to US tariff uncertainty, despite modest relief. The situation underscores the importance of trade talks with Washington for the region's economic recovery.
Swiss Retail Sales Flatline in May, Missing Forecasts
Switzerland's retail sales growth stagnated in May, with year-over-year figures showing 0% growth, down from the previous month's 1.3% increase, falling short of expectations.
Fed Chair Powell Warns of Summer Inflation Spike
Federal Reserve Chairman Powell anticipates elevated inflation readings during the summer months, signaling potential economic challenges ahead.
Democratic Socialist Mamdani Triumphs in NYC Mayoral Primary
Zohran Mamdani, a democratic socialist, has won New York City's Democratic mayoral primary by a 12-point margin, defeating Andrew Cuomo. This victory cements Mamdani's position as the party's nominee for mayor.
Legal Events
Trump's DOGE Initiative Sets Sights on SEC Policies
Trump's DOGE initiative is reportedly targeting SEC policies, including rules for SPACs and private funds, according to sources. This move signals a potential shift in financial regulations.
SEC Greenlights Grayscale's Multi-Crypto ETF, Including XRP and ADA
SEC approves Grayscale's Digital Large Cap Fund conversion to an ETF, allowing spot trading of Bitcoin, Ethereum, XRP, Solana, and Cardano. This marks a significant development in cryptocurrency investment accessibility.
Standard Chartered Faces $2.7 Billion Lawsuit Over Alleged 1MDB Fraud Involvement
Liquidators of 1MDB have initiated legal proceedings against Standard Chartered Bank (Singapore) in Singapore's High Court, seeking $2.7 billion for the bank's alleged role in enabling and facilitating the misappropriation of funds from 1MDB.
Crypto Events
Trump's Cryptic DOGE-Musk Comment Stirs Crypto Community, Dismisses Musk's Tax Bill Critique
Former President Donald Trump has made headlines with a cryptic statement about Dogecoin and Elon Musk. Trump suggested that if "DOGE looks into Musk," it could result in significant savings. This comment has sparked speculation about a potential alliance between Trump, Dogecoin, and Musk in the crypto world. Trump also dismissed Musk's criticisms of a tax bill, citing Musk's reliance on EV and rocket subsidies. The statement has caught the attention of markets and crypto enthusiasts alike.
Bitcoin Teeters at $106K: Analysts Eye Potential July Surge Amid Mixed Signals
Bitcoin's price is currently hovering around $106,537, with the market showing signs of tightening as bulls and bears vie for control. The $106K level is seen as crucial support, while short-term trends lean bearish. However, long-term signals remain bullish, with some analysts predicting a potential surge to new all-time highs in July. MicroStrategy's massive Bitcoin holdings are reportedly set to yield a $14 billion profit this quarter. On-chain data shows a spike in millionaire Bitcoin wallets, suggesting increased confidence from big players. Despite current market uncertainty, many experts remain optimistic about Bitcoin's long-term prospects, with some forecasting a possible rise to $116K this month.
Trump's Tax Bill Clears Senate, Sparks Market and Crypto Reactions
Senate passes Trump's tax bill, causing investor reactions and impacting Bitcoin prices. The bill promises significant changes to the US tax system.
XRP Gains Momentum: Adoption Grows, Price Stagnates, Ethereum Rivalry Heats Up
XRP, Ripple's cryptocurrency, is making waves with increased on-chain activity and integration on Injective following XRPL's EVM launch. Despite bullish signals and growing adoption, price remains flat. Analysts speculate on XRP's potential to challenge Ethereum's dominance in the altcoin market.
SEC Greenlights Grayscale's Multi-Crypto ETF, Including XRP and ADA
SEC approves Grayscale's Digital Large Cap Fund conversion to an ETF, allowing spot trading of Bitcoin, Ethereum, XRP, Solana, and Cardano. This marks a significant development in cryptocurrency investment accessibility.
Deutsche Bank Sets Sights on 2026 for Crypto Custody Launch
Deutsche Bank, Germany's largest bank, plans to launch crypto custody services in 2026, partnering with Bitpanda's technology unit to develop the offering for digital assets.
Environment Events
Solar Stocks Soar as Senate Scraps Clean Energy Tax from Trump's Bill
Solar company stocks surged after the Senate removed an excise tax on wind and solar projects from President Trump's tax bill. This decision boosted investor confidence in clean energy firms.
Oil And Gas Events
Fuel Prices Steady as OPEC+ Mulls Supply Boost; LPG Rates Cut for Larger Cylinders
Fuel prices remain stable in major cities, with domestic LPG cylinder prices unchanged. However, 19 kg cylinder rates have been reduced by over Rs 58. OPEC+ is expected to agree on another significant supply increase, impacting global oil markets. Meanwhile, natural gas prices are declining due to low temperature forecasts, and crude oil prices are retreating as OPEC+ considers further production increases.
Saudi Arabia Ramps Up Oil Exports in June, Kpler Data Reveals
Saudi Arabia boosted crude exports in June, reaching 6.33 million barrels per day, up from 5.88 million in May, according to Kpler data. This increase signals a shift in the kingdom's oil strategy.
Corporate Actions Events
Figma Sparks Tech IPO Resurgence with NYSE Listing Plans
Figma, a cloud-based design platform, has filed for an initial public offering (IPO) on the New York Stock Exchange, signaling a revival in tech IPOs.
UK Regulator Approves Aviva's £3.7B Direct Line Takeover, Creating Largest Motor Insurer
Aviva's £3.7 billion acquisition of Direct Line Insurance has received approval from UK antitrust regulators, paving the way for the creation of Britain's largest motor insurer. The deal marks a significant consolidation in the UK insurance market.
Intralot Acquires Bally's Interactive Casino Unit for $3.2 Billion
Bally's is selling its interactive casino division to Intralot in a €2.7 billion ($3.2 billion) deal. This acquisition creates a global gaming technology and services company in lottery and digital online gaming markets.
UBS Poaches Morgan Stanley's Taylor Henricks to Lead Americas M&A
UBS has hired Taylor Henricks from Morgan Stanley as its new Head of M&A for the Americas. Henricks, previously leading tech M&A at Morgan Stanley, will start in October and be based in Menlo Park.
JPMorgan Unveils $50 Billion Buyback Bonanza
JPMorgan Chase authorizes a massive $50 billion share repurchase program, boosting investor confidence and driving stock prices higher.
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