For: July 3, 2025
>>Markets Close Early Today
(New York, NY) -- The opening bell rings this morning after a mixed day on Wall Street. The S&P 500 and the tech heavy Nasdaq both closed at record highs. It comes after President Trump announced a trade deal with Vietnam. Meanwhile, the latest private payrolls report from ADP showed an unexpected decrease last month. At the closing bell, the Dow Jones Industrial Average fell by ten points to 44-484. The S&P 500 rose by 29 points to 62-27. The Nasdaq gained 190 points to 20-393. The markets will close early today at 1 pm Eastern and will remain dark tomorrow in observance of the Independence Day holiday.
>>Better-Than-Expected 147,000 New Jobs Added In June
(Washington, DC) -- The monthly employment report is out and it beat expectations with the number of new jobs created in June. The Labor Department reports non-farm payrolls increased by 147-thousand last month. Most analysts were expecting to see today's number come in somewhere between 110 and 115-thousand. The 147-thousand is also better than the 139-thousand new jobs added the month prior. The unemployment rate had been expected to tick up just a bit to four-point-three percent, instead it did the opposite, falling - but only slightly - to four-point-one percent.
>>Tesla Vehicle Delivery Decline
(Austin, TX) -- Tesla is reporting a decline in vehicle deliveries. According to the electric vehicle maker, deliveries declined by 14-percent in the second quarter, and it marked the second straight quarterly drop. It comes as Tesla faces an onslaught of competition, especially from Chinese EV makers that sell newer and more affordable models as well as political backlash against CEO Elon Musk. Despite the reported decline in deliveries, Tesla stock rose by about four-percent on Wednesday.
>>FHFA Administrator Calls For Congress To Investigate Powell
(Washington, DC) -- The Federal Housing Finance Agency administrator is urging Congress to investigate Federal Reserve chair Jerome Powell. Bill Pulte, who oversees Fannie Mae and Freddie Mac, has accused Powell of lying to lawmakers during testimony before the Senate Banking Committee last week. Pulte argues that Powell's statements during the hearing were enough to qualify as adequate cause to fire him. The FHFA Administrator has spent weeks following President Trump's lead and attempting to pressure Powell into resigning over his handling of interest rates.
>>Del Monte Foods Files For Bankruptcy
(Walnut Creek, CA) -- Del Monte Foods is filing for bankruptcy. According to the canned food giant, the company began voluntary Chapter Eleven proceedings and entered into a restructuring support agreement with a group of its lenders. The company's CEO said "after a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods." Founded in 1886, Del Monte Foods said it intends to remain open and continue operations throughout the bankruptcy.
>>More Microsoft Layoffs Announced
(Redmond, WA) -- Microsoft is laying off thousands of employees in its latest round of cuts. The move is expected to impact less than four-percent of its global workforce across different teams. The software company has held several rounds of layoffs already this year, including in May when it announced layoffs of around six-thousand workers. Microsoft reportedly is looking to reduce the layers of managers that stand between individual contributors and top executives.
>>Ford Recalling Vehicles Over Rearview Camera Issue
(Dearborn, MI) -- Ford is recalling hundreds of thousands of vehicles. According to the automaker, the recall impacts more than 200-thousand vehicles and it was issued due to a software defect that can cause the rearview cameras to fail. Vehicle models including Ford's F-150, Bronco and Mustang as well as Lincoln Aviators, Navigators and Continentals are under the recall. Dealerships are expected to update the camera software free of charge, and owner notification letters are expected to be mailed by July 28th.
