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Stock market today: Live updates

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Traders work at the New York Stock Exchange on June 25, 2025.

NYSE

The S&P 500 slipped Tuesday to kick off the second half of 2025 after the broad market index notched another record to close out a stunning quarter.

The S&P 500 shed 0.2%, while the Nasdaq Composite lost 0.7%. The Dow Jones Industrial Average, however, gained 257 points, or 0.6%.

Electric vehicle maker Tesla fell about 4% after President Donald Trump suggested in a post on Truth Social that the Department of Government Efficiency (DOGE) should look into the government subsidies that CEO Elon Musk’s companies have received.

Musk has criticized Trump’s sweeping “big, beautiful bill,” calling it “utterly insane and destructive” over the weekend. In response to the president’s recent post, Musk wrote in a post on X: “I am literally saying CUT IT ALL. Now.” This isn’t the first time Trump and Musk have sparred over the administration’s spending plans. A feud broke out between the two earlier this year.

Stocks showed little reaction to comments from Federal Reserve Chair Jerome Powell, who confirmed at a panel at the European Central Bank’s Forum on Central Banking in Portugal that the central bank likely would have cut rates again by now were it not for tariffs. He added that any future move would depend on the data and didn’t answer directly regarding whether or not July would be too soon.

“In effect, we went on hold when we saw the size of the tariffs and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs,” Powell said.

Wall Street is coming off another record setting session after came after Canada walked back its digital services tax in an attempt to facilitate trade negotiations with the U.S. Ottawa’s move to rescind the new levy comes after Trump said on Friday he would be “terminating ALL discussions on Trade with Canada.”

Traders are hoping for deals between the U.S. and its trading partners, as Trump’s 90-day reprieve on his steepest tariffs is set to expire next week. While Zachary Hill, head of portfolio management at Horizon Investments, doesn’t believe the market expects “very much,” volatility could still be on the horizon.

“If you did see some reimposition of the reciprocal tariff rates that were announced on ‘liberation day,’ I don’t think that would be well received by investors in the near term. Is it a catastrophe or something that’s going to cause a reaction of similar magnitude of what we saw in early April? No, I don’t think so, but we are pretty fully valued here,” he said. “Investors have definitely increased positioning over the last couple of weeks, so I do think that’s a potential vulnerability.”

Stocks made an impressive comeback after suffering steep declines in April, after Trump’s sweeping tariff policy pushed the S&P 500 near bear market territory. The major averages have since made a sharp turnaround, with the broad market index closing the second quarter with a 10.6% gain and the Nasdaq up nearly 18% in the period.



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Texas floods: At least 75 dead in single county after flash floods, officials say as more rain expected

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Multiple factors contributed to these devastating floodspublished at 15:02 British Summer Time

Matt Taylor
BBC Weather

Several factors came together to create the devastating outcome
we saw in Texas last week.

First there was the weather patterns at the time.

The remnants
of an ex-tropical storm had become embedded within a broader area of very
unstable air within the region. Unstable air is air which has the ability to
rise rapidly to form large storm clouds.

Tropical Storm Barry, that caused flooding across the Yucatan
Peninsula in Mexico a week earlier, had tracked across the Gulf of Mexico to decay
over north-east Mexico. This had meant there was already large supply of
moisture in the atmosphere.

Wind patterns across the region at the time also
resulted in a flow of humid, moisture-laden air from Gulf too.

The next factor was the geography and topography of the area: Kerr County, where the worst of the floods occurred, is a hillier area which forced moisture-laden
air upwards helping to build huge storm clouds.

The ones that formed over the area were so large they effectively became
their own weather system, producing huge amounts of rain over a larger area.

It was slow-moving, adding to the rain totals and creating further
thunderstorms along a zone that continued to affect the area containing the
Guadalupe River.



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Camp Mystic says it’s grieving 27 counselors and campers

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Jurassic World Rebirth smashes predictions at box office | Film

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Jurassic World Rebirth has outperformed expectations at the box office in its opening week, with the latest instalment of the dinosaur franchise recording over $318m in revenue worldwide after initial projections suggested it might make $260m.

The film opened over the Fourth of July holiday weekend in North America, releasing into US cinemas on Wednesday 2 July – a standard tactic to help boost opening-weekend figures. The film grossed more than $147m (£108m) over five days (Wednesday to Sunday) in the US and Canada, and recorded $171m (£126m) in the rest of the world.

The results are significantly better that what had been predicted: studio Universal had estimated it would score around $100m-$120m in North America, and just over twice that overseas. With an entirely new cast, led by Scarlett Johansson, Mahershala Ali and Jonathan Bailey, producers were not overly optimistic of its chances, given that Independence Day is not a traditional moviegoing holiday. Critical reaction has been mixed, with the Guardian’s Peter Bradshaw being particularly enthusiastic with a four star rating, saying: “It feels relaxed and sure-footed in its Spielberg pastiche, its big dino-jeopardy moments and its deployment of thrills and laughs”.

The film’s chances of profitability are also helped by the (relatively) restricted production budget, reported at $180m compared to the $845m spent on its two predecessors, Fallen Kingdom and Dominion.

However, analysis shows that the film’s figures fall somewhat short of previous Jurassic World films. Rebirth earned $91.5m over the actual weekend (Friday to Sunday), considerably less than Fallen Kingdom ($148m) and Dominion ($145m) over their equivalent periods, while the first franchise reboot Jurassic World took $208m in 2015.



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