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5h ago

U.S. Stocks End Quarter at Record Highs as Futures Slip on Policy Uncertainty

The looming expiration of Trump’s 90-day tariff reprieve alongside a protracted Senate tax vote is set to steer markets after a record-setting quarter.

A person rests under the intense sun near an electronic stock board displaying Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, July 1, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

Overview

  • The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all closed at record highs on Monday, capping their strongest quarterly gains in over a year.
  • U.S. stock futures dipped in early Asian trading as investors assessed the July 9 deadline for ending steep tariffs and Canada’s rollback of its digital services tax.
  • Senators remained locked in a marathon vote on President Trump’s $3.3 trillion tax and spending bill, prolonging uncertainty over its final shape and fiscal impact.
  • Asia-Pacific markets opened mixed Tuesday, with Japan’s Nikkei 225 down about 1.1% and South Korea’s Kospi up roughly 1.5% amid uneven regional economic data.
  • Indian benchmarks finished flat to mildly higher, with FIIs selling ₹831.5 crore and DIIs buying ₹3,497.4 crore, as analysts monitor support at Nifty 25,630 and Sensex 83,200 for direction.