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Tuesday, 1 July 2025

Stocks are soaring. Will it last?

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Also: DEI backlash is slowing ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Jul 1 2025

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

U.S. stocks are having a good week. The broad S&P 500 and tech-laden Nasdaq scored fresh record highs on Monday, closing out their best three months in more than a year.

With so much uncertainty in the world, why are investors feeling so upbeat?

DEI backlash is slowing

For months now, President Trump's threat to strip federal contracts from corporations that support diversity, equity and inclusion initiatives has driven a sharp U-turn in corporate America, with the private sector rushing to distance itself from policies it once favored. 

But a new study, tracking DEI changes inside the nation's biggest corporations, shows that the DEI backlash has slowed. What's going on here?

Trump tax bill nears finish line

As the sun rose in Washington on Tuesday, senators passed their twentieth hour of debate on President  Donald Trump's tax, spending and policy bill − with the finish line still unclear.

The legislation includes provisions on Medicaid reform, increased border security funding and limits to taxes on tips and overtime wages. The outcome in Congress is expected to be either a defining legislative win for Trump or a major setback early in his second term.

📰 More stories you shouldn't miss 📰

Inside Jeff Bezos's "Billionaire Bunker"
When is the Social Security payment for July?
How a Florida couple was scammed out of $80,000
Walmart opens new stores -- but not to the public
Trump's Social Security overhaul could hit retirees hard

About The Daily Money

Each weekday, The Daily Money  delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.

FILE PHOTO: A Wall Street sign hangs in front of a U.S. flag outside the New York Stock Exchange in New York City, U.S., September 18, 2024. REUTERS/Andrew Kelly/File Photo

U.S. stocks closed up as Canada-US trade talks restart and the Senate votes on One Big Beautiful Bill amendments. S&P 500, Nasdaq notch record highs.

President Donald Trump hold up a memorandum he signed ordering an immediate assessment of aviation safety and ordering an elevation of what he called "competence over DEI."
 

Despite Trump backlash, DEI rollbacks are slowing. Here's why.

Trump's crackdown on corporate DEI initiatives after his inauguration drove major changes but the rate has now slowed significantly, new study finds.

U.S. Senate Majority Leader John Thune (R-SD) walks to the Senate floor as Republican lawmakers struggle to pass U.S. President Donald Trump's sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., July 1, 2025. REUTERS/Nathan Howard
 

Trump's major tax, Medicaid bill nears Senate finish line

Debates on and off the floor stretched through the night June 30 and continued on past sunrise July 1.

Lauren Sanchez and Jeff Bezos arrive at the Vanity Fair Oscars party after the 97th Academy Awards, in Beverly Hills, California, March 2, 2025.
 

'Billionaire Bunker': The ultra-luxe island Bezos and Sanchez call home

The Amazon founder purchased three homes totaling $237 million in South Florida's elite Indian Creek Village during a span of nine months.

Social security card with US currency. Retirement benefit concept
 

When do you get your Social Security payment for July? See schedule

Because of the calendar, Social Security's July payments will arrive a few days sooner than in some months.

The Internet Crime Complaint Center's 2023 report found that that nondelivery scams and nonpayment scams cost people more than $309 million that year and credit card fraud accounted for another $173 million in losses. This holiday season guard yourself from shopping scams, which can include auction fraud, non-delivery scams, gift card fraud and non-payment scams.
 

A Florida couple was scammed out of $83K in a PayPal scheme

A fake PayPal text led this couple to lose more than $80,000.

The Walmart at 355 Lincoln Ave., East Stroudsburg, is seen on April 24, 2025.
 

Walmart opens new stores – but not to the public. Here's why.

The newest Walmart stores aren't being opened to shoppers. Instead, these new 'dark stores' are filled with products commonly in online orders.

Someone is looking alarmed and is pulling his glasses off his face.
 

How Trump's Social Security overhaul could affect retirees in 2025 and beyond

It's hard to plan when you're not sure what's happening next. How President Donald Trump's changes to Social Security are affecting retirees.

Traders work on the floor at the New York Stock Exchange (NYSE), June 5, 2025.
 

Forecasters don't expect much from stocks in 2025. Should you?

The stock market usually rises by 10% a year. So why do many forecasters think it will be flat in 2025?

USA TODAY
 

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