Well, you asked for early fireworks… and you got them. The S&P 500 and Nasdaq just clinched another record (their third this week) thanks to a jobs report that came in hotter than expected. And by “hot,” I mean just enough to ruin rate-cut dreams, but not enough to pee in the market’s cheerios. The S&P rose 0.83%, Nasdaq added 1.02%, and the Dow chipped in with a rare 344-point gain… its best close in weeks. “Back it up, Terry! Don’t put it in reverse now… this market’s lighting up.”

June added 147,000 jobs (economists guessed 106,000… oops), and the unemployment rate fell to 4.1%. Combine that with May’s revised gains, and the Fed’s “maybe we’ll cut” talk just got shoved to the back of Jerome’s crystal plated filing cabinet (you know, because he spent a few billion updating the Fed headquarters? allegedly). So now, rate cuts in July are about as likely as Elon giving up Twitter (or my neighbor not calling the HOA over my other redneck neighbor shooting fireworks tonight).

Still, optimism is oozing through Wall Street like ketchup on a Fourth of July hotdog. Trump locked in a trade deal with Vietnam (just in time for his self-imposed deadline), and more importantly… his One Big, Beautiful Bill officially passed. 

After all-night arm-twisting and a tiebreaker vote from VP JD Vance in the Senate, the multi-trillion-dollar package of tax cuts, immigration crackdowns, and deep Medicaid cuts is heading to Trump’s desk. Barely passed the House 218–214, but hey… when you’re gutting social programs and adding $3.4 trillion to the deficit, every vote counts. Also, the U.S. quietly lifted export curbs on chip software to China… and chip stocks like Synopsys and Cadence didn’t miss a beat.

Even gas prices joined the cookout, dropping to $3.16 (the lowest since 2021) saving Americans around $500 million this weekend (to blow on fireworks of course). This is all thanks to a surprise ceasefire between Israel and Iran. Markets are closed tomorrow, but they’re coasting into the holiday weekend like a pickup truck covered in American flags, blasting Lee Greenwood, and running on questionable barbecue until the next Fed meeting.

Enjoy the fireworks, try not to check your portfolio during the family cookout, and whatever you do… don’t bet against Joey Chestnut. The glizzy GOAT is back, and he’s hungry for blood (and about 70 hot dogs).

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News doesn’t hold positions in companies mentioned in the article.