Stocks Edge Higher Amid Continued Tech Sell-Off, Trump Tax Bill Clears Senate
Stocks Edge Higher Amid Continued Tech Sell-Off, Trump Tax Bill Clears Senate
U.S. stock futures posted modest gains early Wednesday, as investors continued to reduce their exposure to technology stocks at the onset of the second half of 2025. Futures tied to the Dow Jones Industrial Average advanced, with S&P 500 and Nasdaq 100 futures also ticking up, though the Nasdaq’s rise remained subdued following Tuesday’s tech-led downturn.
In Tuesday’s regular trading, the blue-chip Dow surged 400 points, propelled by strength in healthcare and materials sectors, including notable gains from Amgen, Johnson & Johnson, and UnitedHealth. Conversely, the S&P 500 slipped 0.1%, and the Nasdaq Composite dropped 0.8% as traders rotated out of the high-flying technology names that fueled much of the market’s second-quarter rebound. The S&P 500’s information technology sector, encompassing major players like Nvidia and Advanced Micro Devices, recorded losses exceeding 1%.
Adding a significant political dimension, President Donald Trump‘s tax-and-spending bill narrowly secured passage in the Senate on Tuesday. The legislation now heads back to the House, where it faces ongoing resistance from some GOP lawmakers. Market analysts anticipate potential volatility in fixed income markets stemming from the bill’s progress, which could influence equity performance.
On the economic front, investors are keenly awaiting Wednesday’s ADP private payrolls report, due before the market opens, with economists forecasting a notable increase in June job additions. The week’s most anticipated economic release, the broader June jobs report, is scheduled for Thursday morning.
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