Investors await key economic indicators and Senate vote on Trump’s major budget bill to assess rate cut prospects
New York, June 29, 2025 – U.S. stock markets ended the week on a high note, and all eyes now turn to June’s non-farm payrolls, PMIs, and a Senate vote on President Donald Trump’s “One Big Beautiful Act”, which could shape future Federal Reserve policy and market momentum.
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The Labor Department is set to release the June employment report on Thursday — a critical update that may influence the Fed’s decision on interest rates. Investors will also analyze manufacturing and services PMIs, auto sales, and factory orders for further signals on the economy’s direction.
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Meanwhile, Senate Republicans are preparing to vote on Trump’s sweeping budget reconciliation bill this weekend, which passed the House of Representatives in May.
📊 Key Economic Data This Week
- June 30 (Monday): Chicago PMI (June)
- July 1 (Tuesday):
- S&P Final US Manufacturing PMI (June)
- ISM Manufacturing Index (June)
- Job Openings Report (May)
- TBA Auto Sales (June)
- July 2 (Wednesday): ADP Employment Report (June)
- July 3 (Thursday):
- US Non-Farm Payrolls (June)
- US Trade Balance (May)
- Factory Orders (May)
- S&P Final US Services PMI (June)
- ISM Services Index (June)
💼 Earnings Watch
Companies reporting earnings this week include:
- Progress Software
- Constellation Brands
- MSC Industrial
- The Greenbrier Companies
- UniFirst Corporation
📈 Last Week’s Market Recap
U.S. indices posted strong weekly gains, buoyed by trade optimism and rate-cut expectations:
- Dow Jones: +432 pts (1.00%) → 43,819.27
- S&P 500: +32 pts (0.52%) → 6,173.07
- Nasdaq: +105 pts (0.52%) → 20,273.46
Bond market update:
- 10-year Treasury Yield: 4.27% (↑ from 4.24%)
- 2-year Treasury Yield: 3.74% (↑ slightly)
🏷️ Tags:
US economy, Wall Street, Trump legislation, non-farm payrolls, Federal Reserve, stock market outlook, PMI reports, interest rate cuts, market forecast, US jobs data