US Stocks Mixed: Senate Passes Tax Bill, Tesla Shares Fall

Market Performance and Tax Bill Impact

• 📈 US stocks closed mixed on Tuesday, with the Dow gaining just under 1%, the S&P 500 edging down marginally, and the Nasdaq shedding more than 8/10en of a percent.
• 🏛️ Investors are weighing the stimulative effects of the Senate's tax and spending package against its multi-trillion dollar cost.
• 💡 The government's heavy spending is expected to impact domestic stocks, particularly those in sectors the public is familiar with.

Key Stock Movers

• 📉 Tesla shares fell more than 5% following Elon Musk's renewed criticism of President Trump's bill, with Trump threatening to cut subsidies.
• 🎲 Shares of US-based casino operators rose, with Wynn Resorts and Las Vegas Sands up nearly 9% each, after Macau reported an increase in June gambling revenue.
• 🏥 Healthcare stocks boosted the Dow, with UnitedHealth and Amgen each gaining more than 4%.

Economic Outlook and Federal Reserve

• 📊 Investors are now focusing on Thursday's non-farm payrolls report.
• 💰 This report could influence expectations for a rate cut from the Federal Reserve as early as July.