Senate Passes Trump's Major Tax and Spending Bill

Markets Pause for July 4th; Key Economic Data Ahead

TL;DR:

🇺🇸 U.S. markets closed for Independence Day
🏛️ Senate passes Trump’s tax and spending bill
📊 Nonfarm Payrolls report expected today
🌏 Key global economic events next week

U.S. Markets Closed for Independence Day

On July 4, 2025, U.S. stock and bond markets were closed in observance of Independence Day. With trading activity paused, investors focused on upcoming economic data and legislative developments. Source

Senate Passes Trump’s Tax and Spending Bill

The U.S. Senate narrowly approved President Donald Trump’s "big, beautiful bill," a major tax and spending package, by a 51-50 vote. The legislation marks a significant policy shift, with analysts watching for potential impacts on fiscal deficits, market sentiment, and sector rotation. Source

Nonfarm Payrolls Report Expected Today

The June Nonfarm Payrolls report is scheduled for release today, July 5, 2025, at 15:30 GMT+3. This data will provide crucial insight into labor market strength and guide short-term market direction, especially after the holiday pause. Source

Key Global Economic Events Next Week

Looking ahead, traders are tracking the Reserve Bank of Australia’s interest rate decision on July 8 and the Federal Open Market Committee Meeting Minutes on July 9. These events could spark volatility across global equity, currency, and commodity markets. Source