01:45 PM EDT, 07/03/2025 (MT Newswires) -- US equity indexes rose this holiday-shortened week amid progress in the Trump administration's trade deals, the passage of the tax-cut bill to the House floor, and stronger-than-expected jobs data.

* The S&P 500 closed at 6,272.28 on Thursday versus the close last week at 6,173.07 on Friday. The Nasdaq Composite stood at 22,866.97 compared with 20,273.46, and the Dow Jones Industrial Average was at 44,828.53 versus 43,819.27.

* Both the S&P 500 and the Nasdaq hit new record highs this week, with financials and technology among the top gainers in mega-cap stocks ahead of the start of Q2 earnings season. Tesla's (TSLA) investors are concerned that renewed tensions between CEO Elon Musk and President Donald Trump could pose regulatory headwinds to the electric vehicle maker's autonomous-driving journey, Wedbush Securities said.

* Nonfarm payrolls rose by 147,000 in June, the Bureau of Labor Statistics reported Thursday, handily beating expectations and the upwardly revised 144,000 in May. The unemployment rate fell to 4.1%, below the market consensus.

* Trump announced a zero-tariff access for US goods into Vietnam after a trade deal framework was finalized with China and an agreement with the UK was operationalized this week. US Treasury Secretary Scott Bessent signaled a "flurry" of deals expected before July 9.

* A group of House Republican holdouts fell in line behind Trump and agreed to allow his agenda to come to the floor, reversing course after days of threatening to block the sweeping bill from a final vote, CNN reported Thursday.

* Federal Reserve Chair Jerome Powell said Trump's sweeping tariffs prompted the central bank to hold off on cutting interest rates this year.

* Markets are pricing a 30% probability of three 25-basis-point interest-rate cuts by December, compared with 45% a day ago, according to the FedWatch Tool Thursday. The likelihood of two reductions by the end of this year is 44%, versus 35% a day earlier.