Big Bill & Better Payrolls Prompt Stock Gains But Dashes Rate-Cut Dreams

The (inevitable) passage of Trump's 'Big Beautiful Bill' combined with better than expected labor market data, a big jump in factory orders, and expansionary signals from Services surveys all added up to a positive (half) day for stocks as Americans readied themselves for a long weekend celebrating their independence.

Goldman's Chris Hussey sums up the shortened 4-day week, noting that investors were met with 4 things to focus on, including the budget bill, trade, sentiment, and employment: