US Stock Market LIVE Updates: Stock futures slip as record-breaking quarter gives way to fiscal uncertainty
Published on 01/07/2025 05:01 PM
When a tariff bill for almost $11,000 arrived without warning, Robert Keeley reached for one of his last financial lifelines and cashed in 1.83 million American Express reward points to pay it.
“It’s like a needle pin holding back a crack in the dam,” said Keeley, who runs Keeley Electronics, a guitar-pedal manufacturer with 35 employees in Oklahoma City.
Keeley’s scramble is part of a broader reckoning for America’s smaller businesses, which are being whipsawed by volatile trade policies. Another blow could land on July 9, the deadline President Donald Trump has imposed on other countries to secure trade deals with the US to avoid higher tariffs.
The Senate killed a controversial effort to prevent US states from regulating artificial intelligence, marking a loss for the Silicon Valley leaders and White House officials who pushed the measure.
Senators voted 99-1 early Tuesday to strip the language out of President Donald Trump’s signature tax legislation during a marathon all-night voting session. The overwhelming opposition came despite widespread support for the pause on state AI legislation from GOP allies in Silicon Valley and White House technology advisers Michael Kratsios and David Sacks.
BYD Co. registered its best month for car sales this year in June, after slashing prices across its range in a move that drew criticism from government authorities and industry groups.
The Chinese carmaking juggernaut sold 377,628 vehicles last month, including 206,884 passenger battery electric cars. That was up 10% from a year earlier, helping to push first-half volumes to 2.1 million units, according to a statement Tuesday.
Rival Geely Automobile Holdings Ltd. Meanwhile, sold more than 193,000 cars in June, a 59% year-on-year increase. The showing prompted Geely to raise its delivery target for 2025 by 11% to 3 million.
BYD’s discounting of as much as 34% across some models in late May may not have resulted in the sales bump it hoped for, and has certainly come with other costs.
Watch this space for all the live updates on the US Stock Market.
Stock futures fall to kick off the second half of 2025.
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