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U.S. stock futures edge higher
Jul 2 2025 4:50PM
U.S. stock futures point higher following the Senate’s passage of a behemoth fiscal bill that holds President Donald Trump’s signature legislative agenda. The measure now moves to the House of Representatives, with Republicans facing an impending deadline to bring the bill before Trump to be signed into law. On the economic calendar, private payrolls data could provide a fresh glimpse into the state of the American labor market.

U.S. stock futures edged higher on Wednesday, as investors assessed the U.S. Senate’s now-approved version of a massive tax-cuts and spending package and kept tabs on the outlook for interest rates and tariffs.

By 03:33 ET (07:33 GMT), the Dow futures contract had inched up by 127 points, or 0.3%, S&P 500 futures had advanced by 17 points, or 0.3%, and Nasdaq 100 futures had climbed by 56 points, or 0.2%.

The main indices were mixed in the previous session, with traders eyeing a more hawkish reading of U.S. hiring and a smaller-than-anticipated contraction in manufacturing sector activity.

But the major story revolved around the fate of Trump’s so-called “One Big Beautiful Bill,” which, after narrowly passing the Senate, now moves to the House of Representatives for final approval -- with a self-imposed July 4 deadline to have the legislation on Trump’s desk looming large.