Author

admin

Browsing

The House of Representatives has voted to advance President Donald Trump’s $3.3 trillion ‘big, beautiful bill’ to its final phase in Congress, overcoming fears of a potential Republican mutiny.

It’s a significant victory for House Speaker Mike Johnson, R-La., though the fight is not over yet.

Lawmakers voted to proceed with debate on the mammoth-sized Trump agenda bill in the early hours of Thursday – a mechanism known as a ‘rule vote’ – teeing up a final House-wide vote sometime later Thursday morning.

The House adopted the rules for debate on the measure in a dramatic 219 to 213 vote – with all but moderate Rep. Brian Fitzpatrick, R-Pa., voting to proceed.

The vote had been stalled for hours, since Wednesday afternoon, with five House Republicans poised to kill the measure before lawmakers could weigh the bill itself.

Several members of the conservative House Freedom Caucus and their allies, meanwhile, appeared ready to skip the vote altogether in protest of GOP leaders’ compromise bill.

But both Johnson and Trump spent hours negotiating with holdouts, apparently to some success.

But the process could still take hours. Democrats could still call up various procedural votes to delay the final measure, as they did when the legislation passed the House by just one vote for the first time in late May.

Plus, the bill itself could still face opposition from both moderates and conservative Republicans.

Conservative lawmakers were threatening to derail the rule vote as recently as Wednesday over changes the Senate made to the legislation, which fiscal hawks argued would add billions of dollars to the federal deficit.

But those concerns appear to have been outweighed by pressure from House GOP leaders and the president himself – who urged House Republicans to coalesce around the bill.

The Senate passed its version of the bill late on Tuesday morning, making modifications to the House’s provisions on Medicaid cost-sharing with states, some tax measures, and raising the debt ceiling.

Moderates are wary of Senate measures that would shift more Medicaid costs to states that expanded their programs under Obamacare, while conservatives have said those cuts are not enough to offset the additional spending in other parts of the bill.

Two members of the conservative House Freedom Caucus who also sit on the House Rules Committee, Reps. Ralph Norman, R-S.C., and Chip Roy, R-Texas, voted against the measure during the Rules Committee’s 12-hour hearing to consider the bill.

Johnson himself publicly urged the Senate to change as little as possible in the run-up to the vote. But the upper chamber’s bill ultimately passed by a similarly narrow margin as the House – with Vice President JD Vance casting the tie-breaking vote.

‘I’m not happy with what the Senate did to our product,’ Johnson told reporters late on Tuesday afternoon. ‘We understand this is a process that goes back and forth, and we’ll be working to get all of our members to yes.’

But Trump took to Truth Social after the Senate passed the bill to urge House Republicans to do the same.

‘It is no longer a ‘House Bill’ or a ‘Senate Bill’. It is everyone’s Bill. There is so much to be proud of, and EVERYONE got a major Policy WIN — But, the Biggest Winner of them all will be the American People, who will have Permanently Lower Taxes, Higher Wages and Take Home Pay, Secure Borders, and a Stronger and More Powerful Military,’ the president posted.

‘We can have all of this right now, but only if the House GOP UNITES, ignores its occasional ‘GRANDSTANDERS (You know who you are!), and does the right thing, which is sending this Bill to my desk. We are on schedule — Let’s keep it going, and be done before you and your family go on a July 4thvacation. The American People need and deserve it. They sent us here to, GET IT DONE.’

Both the House and Senate have been dealing with razor-thin GOP majorities of just three votes each.

The bill would permanently extend the income tax brackets lowered by Trump’s 2017 Tax Cuts and Jobs Act (TCJA), while temporarily adding new tax deductions to eliminate duties on tipped and overtime wages up to certain caps.

It also includes a new tax deduction for people aged 65 and over.

The legislation also rolls back green energy tax credits implemented under former President Joe Biden’s Inflation Reduction Act, which Trump and his allies have attacked as ‘the Green New Scam.’

The bill would also surge money toward the national defense, and to Immigrations and Customs Enforcement (ICE) in the name of Trump’s crackdown on illegal immigrants in the U.S.

The bill would also raise the debt limit by $5 trillion in order to avoid a potentially economically devastating credit default sometime this summer, if the U.S. runs out of cash to pay its obligations.

New and expanded work requirements would be implemented for Medicaid and federal food assistance, respectively.

Democrats have blasted the bill as a tax giveaway to the wealthy while cutting federal benefits for working-class Americans.

But Republicans have said their tax provisions are targeted toward the working and middle classes – citing measures eliminating taxes on tipped and overtime wages – while arguing they were reforming federal welfare programs to work better for those who truly need them.

Progressive Rep. Maxwell Frost, D-Fla., told reporters it was Democrats’ intent to delay proceedings on Wednesday for as long as possible.

‘This last go around, we were able to delay the bill upwards of 30 hours. And so we’re going to do the same thing, do everything we can from a procedural point of view to delay this,’ Frost said.

Meanwhile, there were earlier concerns about if weather delays in Washington could delay lawmakers from getting to Capitol Hill in time for the planned vote.

‘We’re monitoring the weather closely,’ Johnson told reporters. ‘There’s a lot of delays right now.’

Fox News’ Dan Scully contributed to this report.

This post appeared first on FOX NEWS

Omaha City Councilman Brinker Harding has launched a bid to succeed outgoing U.S. Rep. Don Bacon, R-Neb., who announced that he will not seek re-election next year.

‘I’m a husband, father, businessman, and Omaha City Councilman. Today, I am announcing my run for Congress in NE-02 to make America more like its Heartland and to make the next 250 years a New Golden Age for America. I hope you’ll join me!’ Harding declared in a July 1 post on X.

Bacon, who has served in Congress since 2017, has announced that he will finish his current term, but will not run for re-election in 2026.

‘Thank you, @DonJBacon, for your 30 years of distinguished service in the Air Force and a decade of dedicated leadership representing NE-02 in Congress,’ Harding declared in a June 30 post on X. ‘You’ve been a true statesman who’s served with integrity and heart. Wishing you and Angie all the best in this next chapter.’

While Republicans have been divided on the issue, Bacon is a staunch proponent of U.S. aid to Ukraine.

‘It is a time for honesty. Peace talks are having zero effect on Putin. His goal is to dominate Ukraine & he won’t stop until he realizes he cannot win. The U.S. & Allies must arm Ukraine to the teeth, sanction Russia to the max, & confiscate the $300B in overseas Russian assets,’ the congressman declared in a post on X in late May.

U.S. Sen. Deb Fischer, R-Neb., is backing Harding for the House seat.

‘Throughout a lifetime of service to Omaha and Nebraska, Brinker Harding has always championed public safety, economic development, and fiscal responsibility. Brinker will make America safer, stronger, and more prosperous. I am honored to endorse him for Congress,’ Fischer noted in a post on X.

This post appeared first on FOX NEWS

President Donald Trump’s administration released its annual report revealing the salaries for every staffer inside the White House on Thursday.

The report shows employees’ earnings in a range of $59,070 at the lowest to $225,700 at the highest, though a few aren’t accepting salaries at all.

The top-paid staffer at the White House is Jacalynne Klopp, a senior adviser and the sole staffer earning $225,700. Behind her is Edgar Mkrtchian, an associate counsel making $203,645.

Behind them comes a group of 33 staffers making $195,200, which includes many well-known names. White House press secretary Karoline Leavitt takes in this level of salary, as does border czar Tom Homan, chief of staff Susan Wiles, trade adviser Peter Navarro, communications director Steven Cheung, and homeland security adviser Stephen Miller.

The White House did not immediately respond to a request for comment from Fox News Digital.

According to the report, there are 108 employees who make between $59,000 and $80,000, while Trump’s speechwriters earn between $92,500 and $121,500.

Eight employees do not receive salaries at all, though some of those are due to overlapping roles in other sections of government.

Secretary of State Marco Rubio is chief among these, not receiving any compensation for his White House role as national security adviser. Special envoy Steve Witkoff also receives compensation from the state department rather than the White House.

Trump’s own compensation is not listed in the report, but the pay scheme for the president is laid out in federal law. As president, Trump earns a base salary of $400,000, as well as a $50,000 expense allowance, $100,000 for travel, and $19,000 for entertainment.

Trump donated his salary to government agencies during his first term in office, but he has not clarified whether he will do the same during his second term.

The White House did not immediately respond when asked about Trump’s compensation.

Read the full list of White House salaries below (App users click here)

This post appeared first on FOX NEWS

President Donald Trump’s $3.3 trillion ‘big, beautiful bill’ has reportedly set the House record for the longest vote in the history of the lower chamber of Congress. 

The procedural vote on the Senate-amended version of the bill lasted for more than seven hours. In 2021, the House spent seven hours and six minutes voting on former President Joe Biden’s ‘Build Back Better’ legislative package. 

Wednesday night’s voting surpassed the previous record at 9:15 p.m. ET Wednesday by at least 15 minutes, according to Axios.

Assistant House Minority Leader Joe Neguse, D-Colo., goaded House Republicans by claiming the protracted voting period Wednesday violated House rules, Axios reported. 

The extended voting period came as House Speaker Mike Johnson, R-La., wrangled with members of the conservative House Freedom Caucus. They pushed back on the Senate’s version of the megabill over its projected increase to the federal deficit, as well as what they deemed insufficient Medicaid reforms and spending cuts. Rep. Chip Roy, R-Texas, took issue with Senate revisions reintroducing green energy tax credits despite House efforts to roll back such programs. 

With the Democrats united in opposition, the future of the more than 800-page, Trump-backed legislative package depends on a handful of GOP holdouts. 

Following the overnight session, Johnson said Thursday he was determined to get the Senate-amended bill passed by the House and to the president’s desk by the Independence Day deadline on Friday. 

Lawmakers voted to proceed with debate on the Trump agenda bill in the early hours of Thursday – a mechanism known as a ‘rule vote’ – teeing up a final House-wide vote sometime later Thursday morning.

Speaking to reporters Thursday morning, House Majority Leader Steve Scalise, R-La., said that beyond the House Freedom Caucus, some moderate Republicans also have final questions about how the megabill would be implemented. 

‘Some of them wanted to talk to some of the different agencies about, you know, how they’re planning on implementing it, which obviously the agency heads have been planning for months on these changes,’ Scalise said. ‘So they walk through those things and that was helpful to members just to at least get a good idea of what to expect once the bill becomes law. Of course, none of it happens if the bill doesn’t become law. So the focus has always been, let’s get this bill passed.’ 

The Senate passed the ‘big, beautiful bill’ by a razor-thin, 51-50 margin last week, with Vice President JD Vance casting the tie-breaking vote. 

Fox News’ Liz Elkind and Tyler Olson contributed to this report.

This post appeared first on FOX NEWS

Elon Musk and President Donald Trump are fighting again. Now Musk’s business interests — and the billions in government contracts they enjoy — are once again in the crosshairs.

Investors were already punishing Tesla on Tuesday, sending shares in the electric carmaker more than 4% lower in afternoon trading. The stock has experienced a late-spring rally alongside the broader market but remains down some 20% so far this year. The shares have been pummeled by a global backlash to Musk’s alliance with Trump on the campaign trail and in the White House, where the multibillionaire led a sweeping program of government cuts

Musk acknowledged there had been “some blowback” to the actions taken by his Department of Government Efficiency project that may have affected Tesla sales. Yet investors remain largely bullish on the company and its efforts to pivot away from mass-market EVs and toward self-driving taxis and robotics, pushing its market valuation back toward $1 trillion.

Tesla remains Musk’s best-known business, but its fortunes are less directly tied to the government than SpaceX, his rocket-building company. SpaceX’s $350 billion valuation largely rests on the many government contracts that fuel it. SpaceX’s work for NASA has ramped up in recent years in support of the Artemis mission to return to the moon.

Meanwhile, SpaceX’s Dragon spacecraft is currently the only active vessel capable of carrying astronauts to and from the International Space Station. SpaceX has also become essential to the Department of Defense’s missions taking satellites into orbit and today is responsible for the majority of such missions, according to Ars Technica.

SpaceX is privately held, meaning its shares don’t trade on the open market. It is thus difficult to get a real-time gauge on how worsening relations could affect the company’s fortunes. But the impact could be substantial. Since fiscal year 2000, total revenue for SpaceX and Tesla from federal unclassified contracts sits at $22.5 billion, according to Bloomberg Government data — with most of those going to the former. The Washington Post has put the figure for SpaceX alone at close to $38 billion, with $6.3 billion alone coming in 2024 — the highest annual total to date.

The dispute with Trump has also taken a chunk out of Musk’s personal net worth. After soaring to an all-time high of nearly half a trillion dollars after Trump’s election win, Musk’s publicly available wealth tally now sits at $400 billion, though that still makes him the world’s wealthiest individual by nearly $150 billion ahead of Oracle founder Larry Ellison, another Trump ally.

The Musk-Trump tiff first exploded into public view last month, shortly after Musk formally stepped down from his special government employee role and criticized the massive spending and tax cut bill that Republican senators passed Tuesday. Trump responded at the time by threatening to “terminate Elon’s Governmental Subsidies and Contracts.”

Musk, in turn, said he would begin “decommissioning” the Dragon, only to reverse course hours later after an X user advised him and Trump to “cool off and take a step back for a couple of days.”

Before their initial flare-up subsided, Musk announced he would be reining in his political spending weeks after a candidate he had backed lost a key Wisconsin Supreme Court race. Some analysts believe the current relapse in tensions between the two men will be short-lived given Musk’s reliance on the government, and vice-versa.

Still, Musk is now discussing launching his own political party to address the U.S.’s fiscal imbalances, which he believes Trump’s bill will exacerbate — a contention supported by the nonpartisan Congressional Budget Office. While the South Africa-born executive is ineligible to run for office, any candidate he backed for national office would likely face immediate conflict-of-interest questions.

This post appeared first on NBC NEWS

Apple has accused a former engineer for its Vision Pro headset computer of stealing company trade secrets before starting a new job at Snap, according to a lawsuit filed in California last week.

In the June 24 court filing, Apple accuses Di Liu, a senior design engineer, of downloading thousands of documents in his final days at the Cupertino company last year and saving them to his personal cloud accounts.

This lawsuit is the latest example of Apple publicly going after a former employee for leaking internal information. Apple is an intensely secretive company, and lawsuits like this one highlight how the iPhone maker exercises tight control over its internal information, even if it has to pursue legal action against former staff.

Apple alleges that Liu didn’t inform the company when he resigned late last year that he was headed to Snap, a competitor and maker of smart glasses. As a result, Apple did not shut off his access to accounts and allowed him a customary two-week transition period, which he used to download company files, according to the lawsuit.

“Worse still, the review of Mr. Liu’s Apple-issued work laptop also shows that while maintaining access to Apple’s Proprietary Information under false pretenses, he used his Apple credentials to exfiltrate thousands of documents containing Proprietary Information from Apple’s secure file storage systems,” the iPhone maker’s lawyers said in the filing.

Many of the files downloaded by Liu had codenames for Apple projects and described the company’s technology, product design and supply chain, according to the lawsuit. Apple says that all employees agree to keep Apple files confidential and that Liu broke confidentiality agreements he made when he joined. Liu worked for Apple between 2017 and 2024, according to the lawsuit.

Liu worked on Apple’s Vision Pro headset as a system product design engineer, per the filing. Liu did not respond to a request for comment from CNBC.

Apple lawyers wrote that Liu could use the trade secrets in his work at Snap. Apple is not suing Snap, and the social media company did not respond to a request for comment.

“The overlap between Apple’s Proprietary Information that Mr. Liu retained and Snap’s AR products (for which Mr. Liu is a ‘product design engineer’) suggests that Mr. Liu intends to use Apple’s Proprietary Information at Snap,” according to the filing.

Apple is seeking damages and for Liu to have his devices inspected by a forensic examiner to make sure all the trade secrets are deleted.

The iPhone maker has sued several former employees in recent years for taking files when they left the company.

Apple settled with former engineer Simon Lancaster in 2022 over providing information to a journalist. Apple also sued a former employee, Andrew Aude, in 2024 over leaking details to the media. That lawsuit was dismissed after Aude apologized.

The Cupertino company sued Rivos, a chip startup staffed by former Apple semiconductor employees, over its intellectual property, and settled in 2024.

Additionally at least three former Apple employees have also been arrested and accused by the government of taking company secrets and giving them to China-linked organizations. One pled guilty and was sentenced to four months in prison, and two are still in proceedings.

This post appeared first on NBC NEWS

Microsoft said Wednesday that it will lay off about 9,000 employees. The move will affect less than 4% of its global workforce across different teams, geographies and levels of experience, a person familiar with the matter told CNBC.

The announcement comes on the second day of Microsoft’s 2026 fiscal year. Executives at the Redmond, Washington-based company typically unveil reorganizations at the time of the new fiscal year.

“We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,” a Microsoft spokesperson said in an email.

Microsoft has held several rounds of layoffs already this calendar year. In January, it cut less than 1% of headcount based on performance. The 50-year-old software company slashed more than 6,000 jobs in May and then at least 300 more in June. As of June 2024 it employed 228,000 people. In 2023, it laid off 10,000.

Perhaps the largest culling of Microsoft workers came in 2014, when the company eliminated 18,000 after acquiring Nokia’s devices and services business.

As was the case with the May layoffs, Microsoft is looking to reduce the number of layers of managers that stand between individual contributors and top executives, said the person who asked not to be named while discussing internal matters.

“To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft’s lead in removing layers of management to increase agility and effectiveness,” Phil Spencer, Microsoft’s CEO of gaming, wrote in a Wednesday memo to employees in that division.

Microsoft reported nearly $26 billion in net income on $70 billion in revenue for the March quarter. The numbers were well ahead of Wall Street’s consensus, keeping Microsoft ranked as one of the most profitable companies in the S&P 500 index, according to data compiled by FactSet.

Executives called for about 14% year-over-year revenue growth in the June quarter, thanks to expected expansion in Azure cloud services and corporate productivity software subscriptions

Microsoft stock closed at a record high of $497.45 per share on June 26. At the start of Wednesday’s trading session, the shares were down about 0.6%, while the S&P 500 was roughly flat.

Autodesk, Chegg and CrowdStrike are among the other software providers that have slimmed down in 2025. Earlier on Wednesday, payroll processing company ADP said the U.S. private sector lost 33,000 jobs in June. Economists polled by Dow Jones had predicted an increase of 100,000.

This post appeared first on NBC NEWS

The last day of trading for the first half of 2025 ended with a bang. The S&P 500 ($SPX) and Nasdaq Composite ($COMPQ) closed at record highs — an impressive finish, given the year has seen significant swings.

We saw signs of investors rotating into technology stocks last week when the Nasdaq 100 ($NDX) hit a record high. Looking at the one-week timeframe in the US Indexes tab in the Equities panel in the StockCharts Market Summary page, the $NDX has seen the largest percentage gain (+3.76%) and is trading 9.94% above its 200-day simple moving average (SMA). The Nasdaq Composite is a close second, with the same percentage gain and trading 8.92% above its 200-day SMA.

FIGURE 1. EQUITIES PANEL OF THE MARKET SUMMARY PAGE. Here, you see a snapshot of the one-week performance of the major US indexes and how far they are from key moving averages. Image source: StockCharts.com. For educational purposes.

Is the Technology Rally Stable?

With technology stocks taking the lead again, it’s worth checking to see if market breadth supports the move.

  • Bullish Percent Index. The %Bullish Percent Indexes panel shows the Nasdaq 100 at 74%, which is in favor of the bullish move in technology stocks.
  • New Highs vs. New Lows. On Monday, approximately 10% of stocks in the Nasdaq 100 hit all-time highs, while 0% of stocks hit a 52-week low. The semiconductor industry is the top-performing bellwether industry.

Armed with this data, let’s break down the Technology sector.  Looking at the MarketCarpets format, we can see that software and semiconductors occupy a significant portion of the sector. The largest cap-weighted stocks are all in the green — Microsoft Corp. (MSFT), NVIDIA Corp. (NVDA), Broadcom, Inc. (AVGO), Taiwan Semiconductor Mfg. (TSM), and Oracle Corp. (ORCL).

FIGURE 2. MARKETCARPET OF THE ONE-WEEK PERFORMANCE OF THE TECHNOLOGY SECTOR. Mega-cap stocks such as MSFT, NVDA, AVGO, TSM, and ORCL were strong performers. Image source: StockCharts.com. For educational purposes.

Three semiconductor stocks — NVDA, AVGO, and TSM — make up most of the move in the entire sector, which makes it worth looking at a chart of the semiconductor stocks.

Semis Stay Strong

The six-month daily chart of the VanEck Vectors Semiconductor ETF (SMH) below shows a clear uptrend, with the 21-day exponential moving average (EMA) sloping up and the 50-day SMA about to cross above its 200-day counterpart.

FIGURE 3. SIX-MONTH DAILY CHART OF THE VANECK VECTORS SEMICONDUCTOR ETF (SMH). The ETF has been in a steady uptrend and is close to its all-time high. The RSI is above 70, and the PPO histogram is hovering above zero. Both support the bullish move in SMH, but it’s worth keeping an eye on momentum. Chart source: StockCharts.com. For educational purposes.

The relative strength index (RSI) is above 70 while the percentage price oscillator (PPO) histogram is just above zero. Despite Monday’s relatively flat day, all the above data support a bullish trend. A slowing momentum would be the first alarm bell for a pullback, with the first support being the 21-day EMA. That would be an opportune time to monitor the industry and, if you’ve considered adding either individual semiconductor stocks or ETFs to your portfolio, it’s worth monitoring the price action. Price could either reverse after hitting a key support level or continue falling.

As we head into the second half of 2025, the performance of semiconductors and technology stocks will dictate the direction of the market.

The Bottom Line

In a market that flip-flops from one day to the next, you might need a helping hand to prevent you from getting emotionally sidetracked. The Market Summary page is your compass, if you will, that helps you make sense of the market’s twists and turns. Visiting the page should be a part of every investor’s routine.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

S&P 500 earnings are in for 2025 Q1, and here is our valuation analysis.

The following chart shows the normal value range of the S&P 500 Index, indicating where the S&P 500 would have to be in order to have an overvalued P/E of 20 (red line), a fairly valued P/E of 15 (blue line), or an undervalued P/E of 10 (green line). Annotations on the right side of the chart show where the range is projected to be, based upon earnings estimates through 2026 Q1.



Historically, price has usually remained below the top of the normal value range (red line); however, since about 1998, it has not been uncommon for price to exceed normal overvalue levels, sometimes by a lot. The market has been mostly overvalued since 1992, and it has not been undervalued since 1984. We could say that this is the “new normal,” except that it isn’t normal by GAAP (Generally Accepted Accounting Principles) standards.

We use GAAP earnings as the basis for our analysis. The table below shows earnings projections through March 2026. Keep in mind that the P/E estimates are calculated based upon the S&P 500 close as of June 30, 2025. They will change daily depending on where the market goes from here. It is notable that the P/E remains outside the normal range.

The following table shows where the bands are projected be, based upon earnings estimates through 2026 Q1.

This DecisionPoint chart keeps track of S&P 500 fundamentals, P/E and yield, and it is updated daily — not that you need to watch it that closely, but it is up-to-date when you need it.

CONCLUSION: The market is still very overvalued and the P/E is still well above the normal range. Earnings have ticked up and are projected to trend higher for the next four quarters. High valuation applies negative pressure on the market, but other more positive factors can keep the market in overvalued territory.


(c) Copyright 2025 DecisionPoint.com


Technical Analysis is a windsock, not a crystal ball.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Join Grayson for a solo show as he reveals his top 10 stock charts to watch this month. From breakout strategies to moving average setups, he walks through technical analysis techniques using relative strength, momentum, and trend-following indicators. As a viewer, you’ll also gain insight into key market trends and chart patterns that could directly impact your trading strategy. Whether you’re a short-term trader or a long-term investor, this breakdown will help you stay one step ahead.

This video originally premiered on July 1, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.