Market Wrap | US Stocks Surge as Trump Urges Fed Rate Cut

On June 30, 2025, the U.S. stock market saw gains across major indices, with the S&P 500 rising 0.52%, the Dow Jones Industrial Average up 0.63%, and the Nasdaq Composite increasing 0.47%. This positive momentum comes as President Trump has publicly urged the Federal Reserve to significantly cut interest rates, while Goldman Sachs has moved up its expectation for a Fed rate cut from December to September. These developments highlight the ongoing debate over monetary policy and its potential impact on market performance.

In today's market, several sectors outperformed the S&P 500, including technology, healthcare, consumer staples, communication services, real estate, and financials. Conversely, sectors such as consumer discretionary, energy, and materials underperformed relative to the S&P 500.

Palantir Technologies Inc. shares rose 4.27% after the company announced a strategic partnership with Accenture Federal Services. This collaboration aims to enhance AI capabilities for U.S. government agencies, driving investor optimism. Oracle Corporation shares climbed 3.99% following the disclosure of new multibillion-dollar cloud services agreements. These deals are expected to bolster Oracle's cloud business and drive future growth.

Wag! Group surged over 120% today, driven by a significant partnership that has bolstered market confidence in their strategic growth. Artelo Biosciences rose nearly 95%, following positive first-in-human study results for ART26.12, which indicate promising safety and potential efficacy in non-opioid pain management. Meanwhile, JVSPAC Acquisition dropped over 65%, as the company faces a potential regulatory investigation that has impacted investor confidence. Tianci experienced a significant loss of nearly 60%, indicating substantial price volatility.

Elon Musk criticized the Republican Party's "Big and Beautiful" bill, claiming its spending will increase the debt ceiling by a record $5 trillion. He also suggested forming a new political party focused on people's welfare. Trump urged the Federal Reserve to significantly lower interest rates, criticizing Fed Chair Jerome Powell and the committee for not doing so, which he argues could save the US trillions in interest costs. Goldman Sachs shifted its forecast for the Federal Reserve's rate cut from December to September, aligning with Fed official Bostic's expectation of a rate cut this year. Meanwhile, Morgan Stanley strategists warned that even if the Fed cuts rates, the stock market might face pressure if accompanied by economic slowdown.