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Senate Republicans were still at odds Monday over how much to cut Medicaid and other social safety-net programs and how rapidly to end Biden-era clean energy tax breaks as Democrats gained the chance to force votes on amendments to the package. Chilean state mining company Codelco is on track to finalise a landmark deal with lithium supplier SQM well before the next government takes office next year, a company official said Monday. Starbucks is bulking up staffing as Niccol pushes to revive sales in part by speeding up service. It’s a reversal of past years, where the coffee chain cut the average number of store workers. Starbucks has said that nearly all of its more than 10,000 company-operated locations in the US will have more workers by the end of September. The S&P 500 topped 6,200 Monday, with its 24% surge from the brink of a bear market putting the US equity benchmark on pace for its best quarter since December 2023.

Without such measures, the risk is that the crisis will deepen, eroding what little trust remains in Iran’s capital markets and further damaging the broader economy. Market analysts and investors widely condemned the regime’s passive approach, arguing that a combination of tighter price bands, robust liquidity support, and clear communication could have cushioned the blow and restored some measure of confidence. The benchmark S&P 500 and Nasdaq moved firmly higher Wednesday after President Trump announced a trade deal with Vietnam, lifting investor hopes that more agreements will come before the July 9 tariff pause deadline. Market watchers were closely following Senate negotiations over Trump’s proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation.

Commerce Department, warned tariffs on pharma are “coming soon,” and signed an executive order directing medicine manufacturers to lower the price of some drugs in line with costs paid overseas. AstraZeneca’s potential transatlantic move would add to concerns around London’s weakening status as a global financial hub. A number of companies have delisted from the London market or reconsidered plans to float shares in the city over the past year. Market would spark a major index re-weighting, given AstraZeneca is the most valuable business listed on London’s FTSE 100.

With Geopolitical Tensions Running Hot, Buy This Dividend Stock

The latest comments come after Pulte called on Powell to resign last week after the Fed chose not to lower rates at its June meeting. Much of ARKK’s recent strength is due to enormous gains in Circle Internet Group, the fund’s third-largest holding, BTIG said. Circle priced its IPO earlier this month at $31, opened at $69 and is selling for $255 Monday. The $6 billion ETF “has had an incredible comeback,” soaring approximately 80% from its April intraday low and leaving the 10-year-old fund 26% above its 50-day moving average, BTIG said.

All eyes on jobs ahead of Fourth of July

However, Coatsworth noted that AstraZeneca generates around 42% of its sales from the U.S., and already has plans to increase its operational footprint in the country. “Unlike many other UK market ‘defectors’ with a dominant US shareholder base like CRH and Flutter, AstraZeneca has a more geographically diverse pool of investors,” he explained in an email. Metals investor Cobalt Holdings, meanwhile, confirmed to CNBC last month that it had scrapped plans for a London IPO, while British fintech giant Wise announced in June that it was moving its primary listing from London to New York. Toni Meadows, head of investment at London’s BRI Wealth Management, labeled AstraZeneca’s rumored listing considerations as “disappointing” for the U.K.

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“The Gulf has distanced itself and has been calling for appeasement, supporting a peaceful resolution, and has gone as far as condemning Israeli aggression,” Fadi Arbid, founding partner and CIO of Amwal Capital Partners, told CNBC. He explained that such rhetoric “has helped the Gulf isolate itself from conflict” and any significant short-term market impact, adding that the net mid-term is positive. At its peak on Sunday, more than $1 billion in crypto positions were liquidated during a 24-hour span — with over 95% coming from long bets, underscoring just how overexposed the market was heading into the weekend. More than $1.04 billion flowed into spot bitcoin ETFs from Monday through Wednesday last week, according to data from CoinGlass. But those inflows collapsed heading into the weekend, with zero net movement Thursday and just $6.4 million on Friday — coinciding with President Donald Trump’s early G7 departure and the announcement of a two-week review of U.S. options on Iran. Bitcoin dropped below the $99,000 mark on Sunday — its lowest point in more than a month — as the crypto market became the first to react to escalating geopolitical risk.

US stocks moved higher to clinch more record highs on Wednesday as optimism over US trade deals rose at the same time that more signs of an intensifying labor market slowdown bolstered the case for the Federal Reserve to start cutting interest rates. “While Iran has flirted with closing the Strait of Hormuz, investors aren’t terribly panicked about an oil market calamity, an equanimous view that’s appropriate at this point,” wrote Adam Crisafulli of Vital Knowledge in a Monday note. The Tehran Stock Exchange (TSE) has entered one of the most turbulent periods in its history in the wake of the 12-day war between Iran’s regime and Israel. The conflict, which brought direct military confrontation and heightened geopolitical risk, triggered a cascade of negative effects on Iran’s capital markets.

• The Tehran Stock Exchange (TSE) has entered one of the most turbulent periods in its history in the wake of the 12-day war between Iran’s regime and Israel.
• It’s part of President Gabriel Boric’s efforts to boost state involvement in critical minerals while stepping up production despite current global oversupply.
• The muted reaction in equity markets following the U.S. attacks on Iran shows investors aren’t worried about a shock to the oil market, according to Adam Crisafulli of Vital Knowledge.
• The Organization of the Petroleum Exporting Countries and its allies have been reviving halted output at triple the initially-scheduled rate during the past three months, despite faltering fuel demand and signs of global oversupply.
• Market watchers were closely following Senate negotiations over Trump’s proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation.

What a weak jobs report could mean for the Fed’s next move

This led to a sell-off in oil as traders bet crude supply wouldn’t be materially disrupted by the ongoing conflict. A potential deal was knocked off course last week, although hopes remain for an accord, said the person, who asked not to be named because the discussions are private. Federal Reserve Bank of Atlanta President Raphael Bostic said tariff price increases may be incremental instead of a one-time bump, which could result in more persistent upward pressure on inflation. Zuckerberg wrote Monday to employees that Meta’s AI efforts will fall under a new group called Meta Superintelligence Labs, which will be led by Alexandr Wang, the former CEO of data-labeling startup Scale AI, according to an internal memo reviewed by Bloomberg. Wang, whom Zuckerberg called the “most impressive founder of his generation,” will serve as chief AI officer. “This is a first-of-its-kind type of deal, and it will help us expand the number of employees we work with,” Stacy Greiner, the company’s chief executive officer, said in an interview.

U.S. crude oil futures slipped more than 7% to settle at $68.51 per barrel, after hitting their highest level since January overnight. In a Truth Social post, he said that “everyone” should keep oil prices low, and doing otherwise would “play into the hands of the enemy.” The Organization of the Petroleum Exporting Countries and its allies have been reviving halted output at triple the initially-scheduled rate during the past three months, despite faltering fuel demand and signs of global oversupply. “There is a risk that seeps into the psyche of the consumer and the business leader,” Bostic said Monday during an event in London hosted by MNI. A divide has developed among Fed officials, likely over how tariffs are expected to affect inflation. Still, net profit fell by more than half to about $7 billion, pressured by high interest rates, inflation and impairments on select projects.

The hiring and quits rates remain near decade lows, reflecting what economists have described as a labor market in “stasis.” Jerome Powell spoke about the Fed’s policy stance at an ECB forum in Portgual on Tuesday, fresh from another Trump attack pushing the Federal Reserve chair to slash interest rates to 1% — a huge 250-point reduction. Powell remarked that tariffs are causing the central bank to take its time before cutting interest rates, but he said the US economy remains healthy overall. Another looming deadline has prompted the US to scale back Trump’s push for full-blown “reciprocal” deals with trading partners, the Financial Times reported. Instead, officials are racing to find narrower agreements before July 9, when the president’s sweeping “reciprocal” tariffs dowmarkets are set to resume. BMO Capital Markets sees tough times ahead for Dow, downgrading the stock to underweight on Monday.

Separately, Goldman Sachs economists predicted an earlier start to Federal Reserve interest-rate cuts than they had previously, which also supported the broader bond market. The benchmark 10-year note’s yield fell below 4.24% to the lowest level since May 2. Get the latest updates on US markets, world markets, stock quotes, crypto, commodities and currencies. Stocks started a holiday-shortened week on an upbeat note as hopes rose that the US and its top trading partners are closing in on deals over the sweeping tariffs introduced by President Trump. “Decreased escalation or resolution is likely to mean the reverse, and reward again for the ‘buy the dip’ crowd.” “The potential move makes it painfully clear to global markets that the UK is losing its edge on the needs of world-class, scale-driven companies,” she said.

US Stock Market LIVE Updates: Trump, Republicans Rush to Overcome Internal Clashes on Tax Bill

Last week, Madrid said the proposed acquisition could only go ahead if the two banks remain separate entities for at least three years. That has raised questions over BBVA’s ability to extract cost savings and make the deal work economically. The North Koreans used stolen identities to gain employment with roughly 100 American companies, according to the Justice Department. They were helped by people in the US, China, the United Arab Emirates and Taiwan, according to the court records. Barclays led the sale, which consisted of three investment-grade rated bonds and one rated junk, according to Bloomberg News deal information. Investors bought the highest-rated and largest of the bonds for interest payments of 1.75 percentage points above Treasuries, or 5.63% per year, Bloomberg reported.

• Crude prices tumbled Monday after Iran’s response to U.S. attacks was more muted than traders feared.
• The repurchases could be of either common stock or warrants and would be conducted through open market transactions, according to the press release.
• As of early June, external applicants must be screened by district managers in addition to the manager of the store where they’re applying, according to people familiar with the matter who weren’t authorised to speak publicly.
• “Large and important companies like AstraZeneca are seeking a valuation uplift from exposure to a wider investor base and they will get that from moving to a US listing,” BRI’s Meadows told CNBC via email on Wednesday.
• Still, net profit fell by more than half to about $7 billion, pressured by high interest rates, inflation and impairments on select projects.

Trump says to ‘keep oil prices down’ and ‘drill, baby, drill’ in social media post

The inclusion of a company in the Dow Jones Industrial Average does not depend on defined criteria. Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded. There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed. AJ Bell’s Coatsworth told CNBC that AstraZeneca’s CEO could also see a full U.S. stock listing as a “stepping stone to receiving better treatment Stateside.” Tom Bacon, a London-based partner at global law firm BCLP — which has a division dedicated to M&A and corporate finance — labeled reports of AstraZeneca’s Soriot’s desire to shift away from London “very worrying.”

The Trump administration ramped up pressure on Harvard earlier Monday, saying that a US investigation found that the school violated civil rights law in its treatment of Jewish and Israeli students. “Failure to institute adequate changes immediately will result in the loss of all federal financial resources,” the government said in a letter to Harvard President Alan Garber. It’s a widely held belief among economists that President Donald Trump’s tariffs will boost inflation notably over the next few months.

Novo Nordisk shares are under pressure after updates at the American Diabetes Association conference this weekend left the impression that Eli Lilly has an edge in obesity treatment. Also, Novo Nordisk said it ended a venture with telehealth platform Hims & Hers to sell its weight loss drug. Shares of Trump Media fell 1.3% after the company announced that it had approved a stock buyback plan of up to $400 million. West Texas Intermediate futures dropped more than 7% to settle at $68.51 per barrel. That came after Azerbaijan on Sunday cancelled cultural events linked with Moscow in the oil-rich Caucasus state over the deaths of two Azerbaijani men during a police raid in the Russian Urals city of Yekaterinburg.

Last updated: Julho 3, 2025