A clearer view of today.

The U.S. Senate has narrowly passed President Trump’s sweeping “One Big Beautiful Bill Act,” marking the largest overhaul of taxes and spending since 2017. The $3.3 trillion package includes significant tax cuts and over $1 trillion in health spending reductions, primarily targeting Medicaid, alongside enhanced border and military funding. The bill faces continued uncertainty, as House approval is still pending and political tensions run high over proposed program changes and their social safety net implications.

Source: Crain’s New York Business

Federal Reserve Chair Jerome Powell reaffirmed the Fed’s data-driven approach to monetary policy, resisting President Trump’s mounting pressure to cut rates before the July meeting. Powell indicated that reductions will only occur if supported by sustained evidence of cooling inflation, adding the central bank is not “on any schedule” and remains vigilant about fiscal and trade policy developments. The cautious stance underscores market uncertainty over the timing and pace of future rate moves.

Source: NYT DealBook

After notching a series of record closes, the S&P 500 and Nasdaq pulled back as tech giants Nvidia, AMD, and Broadcom led a semiconductor selloff. Investors cited renewed volatility from the Trump-Musk public feud and shifting tariff expectations for the downturn in leading technology and AI-focused stocks. Some market strategists warn of heightened uncertainty ahead and recommend reviewing exposure in tech-heavy portfolios.

Source: Seeking Alpha

The SEC has approved Grayscale’s proposal to convert its Digital Large Cap Fund into a spot crypto ETF, marking the first U.S.-listed multi-asset digital fund. This regulatory milestone enables U.S. investors to access a basket of leading cryptocurrencies—beyond just Bitcoin—on a national exchange. The move is widely seen as advancing crypto mainstream adoption, with further institutional inflows anticipated.

Source: FinanceFeeds

European benchmarks rose in early trading as private equity firm KKR announced the £4.1 billion acquisition of UK-based Spectris, sending the target’s shares sharply higher. The deal reflects the continued surge in M&A activity across Europe as investors hunt for value and companies reposition for a post-tariff environment. Broader sentiment remains upbeat, with most regional indexes in positive territory.

Source: Seeking Alpha

The UK Financial Conduct Authority (FCA) has extended anti-bullying and anti-harassment standards to about 37,000 regulated entities, including FX and CFD brokers, with effect from September 2026. The new rules bring non-banking financial companies in line with existing bank conduct standards, reinforcing the need for strong workplace cultures and risk management. Firms must now implement frameworks for identifying, recording, and responding to misconduct or face regulatory action.

Source: Finance Magnates

KPMG says Hong Kong banks can unlock new growth drivers by embracing AI and adapting to post-tariff trade flows, as traditional interest rate and loan income stagnate. The consultancy forecasts opportunities not only from AI adoption in core operations but also from helping regional corporates restructure in response to global trade tensions. The sector’s resilience now hinges on digital transformation and strategic adaptation to the shifting external environment.

Source: South China Morning Post

• Thought Markets Were Volatile in the First Half? Watch Out.
• SEC Outlines Disclosure Expectations for Crypto ETPs
• Banzai International Secures $11M Debt Facility
• Goldman Sachs Now Sees Next Fed Rate Cut Coming Months Earlier
• eToro Secures $250 Million Credit Facility After U.S. IPO
• Proposed Medicare Payment Cut Could Scuttle UnitedHealth/Amedisys Deal
• Robinhood Begins Minting Tokenized Stocks On Arbitrum As EU Launch Goes Live