Trade tensions and the July 9th deadline for negotiations continue to add uncertainty to the markets. Indices were down overnight following yesterday's NFP-fueled rally. The strong NFP numbers are likely to rule out a July rate cut.
Trump secured a sweeping shift in US domestic policy as the House passed a $3.4 trillion fiscal package that cuts taxes and curtails spending on safety-net programs.
A $5 trillion increase in the US debt limit included in the package eliminates the risk of a payment default the Treasury had forecast could come as soon as mid-August.
The president said he plans to sign the bill on Friday at a 4 p.m. ceremony at the White House.
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Bitcoin fell 0.7% to $109,199.76
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Ether fell 0.8% to $2,579.95
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Spot gold rose 0.4% to $3,338.95 an ounce
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Crude was little changed ahead of an OPEC+ meeting that’s set to deliver another oversized production hike
US markets are closed today for the July 4th holiday, with no high-impact data releases scheduled.
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