Squawk on the Street Jobs Report Sends Stocks to Record Highs, Trump "One Big Beautiful Bill" Vote, Chip Designers and China 7/3/25
Jul 3, 2025
The strong June jobs report sends the S&P 500 and Nasdaq to record highs. President Trump's upcoming vote on a significant bill has major implications for investors. The easing of export restrictions on chip design software for China raises eyebrows. Discussion also delves into Meta's stock upgrade and its innovative AI strategies. An engaging mix of the semiconductor industry's transition and job market trends rounds out the talk, showcasing the intertwining of economics and evolving technology in today's landscape.
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Strong Jobs Report Surprises Market
- The June jobs report showed 147,000 jobs added and unemployment fell to 4.1%, surprising expectations.
- Despite political rhetoric suggesting a slowdown, the strong number indicates a resilient labor market.
Accelerated Depreciation Boosts Reshoring
- The new tax bill includes accelerated depreciation to encourage reshoring and capital investment.
- This tax deferral improves company cash flow and incentivizes US manufacturing growth.
Trade Deals and Prime Day Lift Market
- Markets remain optimistic with cooling trade tensions and upcoming trade deals possibly favoring the US.
- Prime Day is expected to boost retail sales, counteracting inflationary concerns.