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Closing Bell

Closing Bell: Tension-Release Rally 7/3/25

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 3 July 2025

⏱️ 42 minutes

🧾️ Download transcript

Summary

This holiday-shortened trading week ends with a tension-release rally pushing the key infexes further into record territory. So what could be next for your money? We discuss with Fundstrat’s Tom Lee, Truist’s Keith Lerner and Wealth Enhancement Group’s Aya Yoshioka. Plus, former Fed Governor Frederic Mishkin breaks down his first reaction to the jobs report and what it might mean for the Fed’s next move. And, Lisa Shalett – CIO of Morgan Stanley Wealth Management – tells us where she is finding opportunity in the second half of the year.

Transcript

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0:00.0

All right. Thank you, Sarah. And Wilf, welcome to a special closing bell on this holiday short and trading day. I am Mike Sandoli, in for Scott Wapner. This make-a-break hour before the long weekend begins with a tension-release rally pushing the key indexes further into record territory. A better-than-fear job support and the imminent end to the suspense over the big budget bill have freed markets to extend their recent gains.

0:24.6

Take a look, the S&P 500 up now almost 9 tenths of 1% above 6275.

0:30.6

The Dow also up a similar percentage.

0:33.6

NASDAQ has retaken the lead from what had been a two-day rotation towards small caps, such as the Russell 2000, which remains up 9 tenths of 1%.

0:43.8

Treasury yields, they are higher as chances of a July rate cut have more than almost all but evaporated, let's say.

0:51.4

You get the two-year yield is up the most,

0:54.7

but you do see the tens, 433.

0:57.8

Right now, it had been down by 4.2.

0:59.8

We will discuss whether these suddenly,

1:01.5

a billion markets have it right

1:03.6

or are getting a bit too comfortable all this hour.

1:06.5

But first, let's get to the key stories out of Washington.

1:08.9

Amon Jabbers is standing by at the White House following that big interview with Treasury Secretary

1:13.1

Scott Bessent.

1:14.4

But let's start on Capitol Hill with Emily Wilkins as we still await a House vote on President

1:19.3

Trump's Magabelle, Emily, where do we stand?

1:21.5

Oh, Mike, right now, House Minority Leader Hakeem Jeffries is taking his moment.

1:29.5

Really, the minority hasn't had much to do here.

1:31.5

Democrats haven't had their fingers in this bill.

1:33.8

But what Jeffries can do is that he can use what is called the Magic Minute to talk

1:38.2

on the House floor for as long as he can.

1:40.6

And it looks like as he enters our number seven, what he's going to try to do is break the record

...

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