In a dramatic legislative move, the US House narrowly passed President Trump’s so-called “One Big Beautiful Bill,” a $4.5 trillion tax-and-spending package that slashes over $1 trillion in health care funding—including $940 billion in Medicaid cuts—and provides sweeping tax relief for businesses and higher-income households. The package also spells the end of key Affordable Care Act supports, imposes new work requirements for Medicaid, and sets historic entitlement reforms, while boosting defense and border spending. As the measure heads to Trump's desk, health care, insurance, and hospital groups warn of dramatic coverage losses, state budget chaos, and potential hospital closures.
Source: $1T in health care cuts pass Congress, head to Trump
US Job Growth Beats Forecasts—But Private Hiring Slips, Cooling Rate Cut Hopes
The US economy added 147,000 jobs in June, surpassing expectations and pushing the unemployment rate down to 4.1%, driven largely by a surprising surge in public education hiring. However, private sector hiring slowed to just 74,000, its weakest since October, raising questions about underlying labor market health as trade uncertainty and tariff policy weigh on business confidence. Treasury yields and the dollar rose, with markets now expecting the Federal Reserve to hold off on rate cuts in July, though a September move remains in play.
Source: MarketWatch
S&P 500 Sets Record High Before Holiday; Rate Cuts Likely Delayed
The S&P 500 soared to a new record above 6,280 as resilient jobs data fueled optimism about the US economy, even as the details suggest weakening in the private sector. With the strong labor report cooling expectations for a July rate cut, investors now eye September as the most likely turning point for monetary policy. Equities outperformed global peers, as uncertainty over tariffs and deficit spending looms large in the second half of 2025.
Source: FinanceFeeds
Funded Unicorn Collapse Shakes European Prop Trading Industry
Germany’s Funded Unicorn, a rare “A-book” prop trading firm, abruptly folded this week after mirroring trader performance directly with real capital led to unsustainable losses. The event has intensified scrutiny of proprietary trading models in the region, where most firms use simulated order books or operate as client counterparties (“B-book”). The episode highlights both the risks of market-based funding models in volatile conditions and the ongoing debate about transparency and sustainability in online trading.
Source: Finance Magnates
eToro Shares Drop 20% From Peak, Yet Analysts Predict Strong Upside
eToro’s shares have slumped more than 20% from June highs after the firm’s Nasdaq debut, but the fintech still has the confidence of seven major investment banks, all of whom have issued “Strong Buy” ratings and set price targets as high as $85—about 30% above current levels. The average analyst target stands at $75.20, as investors cite rapid user growth, a robust credit facility, and the platform’s appeal to younger global traders. eToro’s board was also strengthened this week with the addition of a former SEC commissioner and Wix’s CFO.
Source: Finance Magnates
Regulators Clamp Down: Cyprus, Malta, UK Issue New Fines and Rules
Regulatory crackdowns continue: The Cyprus Securities and Exchange Commission (CySEC) levied €90,000 in fines against two FX/CFD companies for compliance failures, as Malta’s MFSA warned of widespread market abuse risks and gaps in control among CFD brokers after a four-year review. Meanwhile, the UK FCA finalized rules classifying bullying, harassment, and violence as misconduct in financial services, extending its reach to 37,000 additional firms and toughening industry standards across banking and asset management.
Source: Finance Magnates
Crypto & Digital Asset Highlights: Bitcoin Millionaires Surge, Grayscale ETF Halted
The number of Bitcoin millionaires soared by over 26,000 in the first half of 2025—driven by post-halving price gains—while President Trump’s personal crypto holdings nosedived 78%. Regulatory debate continues: the SEC abruptly reversed approval for Grayscale’s large-cap digital asset ETF just a day after staff sign-off, signaling caution toward multi-token crypto products. Meanwhile, Bitstamp won a Singapore license amid a region-wide clampdown, and Ripple applied for a US banking license to expand its stablecoin business.
Source: Finance Magnates
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