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Markets Cool After Hot July: Wall Street Slips as Tariff Deadline and Jobs Data Weigh on Sentiment

  Wall Street Ends July on a Cautious Note Amid Tariff Tensions and Jobs Report Jitters The U.S. stock market closed the final trading session of July with modest losses, capping a month of strong gains on a sour note as investors braced for President Trump's looming tariff deadline and a pivotal jobs report. Dow Jones Industrial Average fell about 0.7% S&P 500 slipped 0.4% Nasdaq Composite dipped below the flatline after earlier gains Despite Thursday’s decline, July was a solid month overall: S&P 500 gained 2.3% Nasdaq rose 3.7% Dow ended the month nearly flat Tariff Deadline and Trade Uncertainty President Trump’s tariff deadline on Friday has markets on edge. While he extended current rates with Mexico for 90 days, broader trade terms with other partners remain uncertain. The U.S. also struck a deal with South Korea, applying 15% tariffs in exchange for duty-free treatment on many American goods. Fed Policy and Inflation Concerns The Federal Reserv...

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Trump Signs Sweeping Tax and Spending Bill Amid July 4 Festivities

In a dramatic display of political theater and patriotic pageantry, President Donald Trump signed his landmark tax and spending cut bill into law during the White House’s Fourth of July picnic on Friday. The event, complete with military flyovers and red-white-and-blue bunting, marked a pivotal moment in Trump’s second-term agenda.

Flanked by Republican lawmakers and Cabinet members, Trump signed the multitrillion-dollar legislation on the South Lawn, using a ceremonial gavel gifted by House Speaker Mike Johnson. The bill, which narrowly passed both chambers of Congress, extends Trump’s 2017 tax cuts while slashing $1.2 trillion from Medicaid and food assistance programs. It also ramps up immigration enforcement and repeals key provisions from the Obama and Biden administrations.

“This is going to make our country into a rocket ship,” Trump declared, calling the bill “very popular” despite polling that suggests otherwise. Fighter jets and a stealth bomber soared overhead as the president and First Lady Melania Trump appeared on the White House balcony, underscoring the administration’s message of strength and celebration.

Democrats fiercely opposed the bill, with House Minority Leader Hakeem Jeffries delivering a record-breaking eight-hour speech condemning it as a “crime scene” targeting the nation’s most vulnerable. The Congressional Budget Office estimates the legislation will add $3.3 trillion to the deficit over the next decade and leave nearly 12 million more Americans without health insurance.

As fireworks lit up the Washington sky, Trump hailed the bill as a “birthday present for America,” setting the stage for what is sure to be a contentious election-year debate over its long-term impact.

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