Overview

• ADP data revealed U.S. private employers unexpectedly shed 33,000 jobs in June, the first monthly private-sector loss since early 2023.
• The Senate approved the Republican reconciliation tax-and-spending bill by a 51-50 vote, advancing it to the House with a debt-ceiling increase that adds about $3.3 trillion to deficits.
• The United States and Vietnam reached a trade agreement imposing 20% tariffs on many Vietnamese exports and zero tariffs on U.S. goods, extending a 90-day tariff pause through July 9.
• Major U.S. banks boosted dividends and authorized share buybacks after passing the Federal Reserve’s stress tests, while Centene withdrew its 2025 guidance and saw its stock plunge over 25%.
• Tesla shares fell more than 5% after President Trump threatened to strip subsidies; Fed Chair Jerome Powell reiterated that tariff effects on inflation could be higher or lower than anticipated before rate cuts.