Markets Close Higher, Supreme Court Rejects Trump National Guard Bid, Epstein Documents Released

Stock Market Performance

• 📈 Wall Street traders drove stocks higher, with the S&P rising for a fourth straight day to a fresh record high.
• 📊 The S&P 500 increased by 31 points, the Dow added 80 points, and the Nasdaq was up 133 points.
• 📉 The ten year Treasury yield stands at 4.16%, and the two year Treasury yield is at 3.53%.

Supreme Court and Trump Administration

• 🏛️ The Supreme Court refused to allow the Trump administration to deploy National Guard troops in Chicago for immigration enforcement.
• ⚖️ Justices declined an emergency request to overturn a lower court ruling that had blocked the troop deployment.

Jeffrey Epstein Investigation Documents

• 📄 The Justice Department released thousands of additional documents related to the Jeffrey Epstein investigation.
• 🔍 These documents include references to President Trump and a 2007 indictment that would have charged Epstein, his employees, and companies with sex trafficking.
• ✈️ A 2020 email details new information about Trump's trips on Epstein's private jet in the 1990s.

Consumer Confidence and Economic Outlook

• 📉 U.S. consumer confidence declined for the fifth consecutive month, exceeding economists' expectations.
• 😟 This decline is attributed to more pessimistic views on the labor market and business conditions, with consumers worried about finding jobs.

Federal Reserve Inflation Target and Fiscal Policy

• 🎯 Treasury Secretary Scott Bezzant supports reconsidering the Fed's 2% inflation target once inflation is sustainably brought down.
• 💰 Stabilizing the budget deficit could support arguments for lower interest rates, citing Germany's fiscal balance as an example.

International Incidents

• ✈️ A private jet carrying Libya's military chief of staff, Muhammad Ali Ahmad Al Haddad, crashed in central Turkey, killing him and four others.
• ❓ Authorities lost contact with the aircraft while it was flying from Ankara to Tripoli.