The US stock market ended on a mixed note on Tuesday, July 1, 2025, as investors digested comments from Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average rose 400 points, or 0.9%, to finish at 44,494.94, its longest winning streak since early June.
However, the S&P 500 slipped 6.94 points, or 0.1%, to end at 6,198.01, while the Nasdaq Composite fell 166.84 points, or 0.8%, ending at 20,202.89.
Senate Republicans narrowly approved President Donald Trump’s signature tax-and-spending package in a 51-50 vote, with Vice President J.D. Vance casting the tie-breaking vote. The bill must now pass the House of Representatives before heading to the president’s desk.
Federal Reserve Chair Jerome Powell stated that the US central bank is still “meeting by meeting” in its approach to interest-rate decisions. However, he did not directly acknowledge whether or not a potential rate reduction at the end of this month would be too soon.
Job openings for May triggered a selloff in most US government debt, pushing the policy-sensitive 2-year Treasury yield up by the most in over three weeks.
The Senate’s approval of President Trump’s bill and the mixed market performance reflect the uncertainty surrounding the second half of 2025.
Source: https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p500-nasdaq-lower-as-stocks-dip-from-record-high-at-start-of-second-half