— For 2nd quarter 2025, S&P 500 earnings are expected to increase 5% on average vs. same quarter in 2024; for 2025, a 9% increase is expected down from 11% at the end of March.
— The U.S. budget bill is making its way through Congress, with Republican leaders aiming for July 4 passage; bill extends 2017 tax cuts and is forecast to increase U.S. budget deficit by $3 trillion over next decade.
— U.S. manufacturing activity slowed in June but is still expanding, with manufacturers facing higher input costs that are being passed on to consumers.
— Sales of new U.S. homes fell 13% in May vs. April and are down 6% from last April, with 10 months of housing inventory for sale, a three-year high; mortgage rates considered a hindrance.
— Facebook owner Meta signed deal with clean energy producer Invenergy to supply 800 MW of power (enough to power 500,000 homes) for its operations and data centers.
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