Dow Jones is rising, S&P 500 and Nasdaq are weakening

The Dow Jones rose 0.91 percent to 44,494.94 points. The S&P 500 fell 0.11 percent to 6,198.01 points and the Nasdaq Composite fell 0.82 percent to 20,202.89 points.

Twenty-two of the 30 companies in the Dow Jones ended the session higher. The biggest gainer was United Healthcare Group (+4.53%), while Nvidia (-2.97%) was at the other end of the spectrum. Nine of the 11 major sectors of the S&P 500 also rose, led by materials (+2.28%).

The company that weighed heavily on the S&P 500 was Tesla. Its shares fell by 5.34 percent to $300.71. This is the result of further public quarrels between Elon Musk and Donald Trump. The US president even suggested deporting the billionaire.

The session was dictated by the adoption by the US Senate of Donald Trump's "big, beautiful bill", which will reduce the tax burden on the wealthiest. It may also contribute to a significant increase in the US budget deficit.

Due to the amendments introduced, the bill will once again go to the House of Representatives. In early June, it supported the bill in its original form, but it is not yet clear whether it will accept it in its new wording. The US President assessed that the bill would pass the House of Representatives "easily", "much easier than the Senate".

Donald Trump also indicated on Tuesday that he is not considering extending the deadline for suspending tariffs. It expires on July 9. By then, according to the head of state's declaration, the partners must negotiate their trade agreements with the United States.

The number of job openings in the US unexpectedly rose in May, reaching its highest level since November, mainly due to the hotel industry. The number of vacancies rose by 374,000 in June to 7.77 million, while analysts expected a small decline. Meanwhile, the US manufacturing sector remained in recession in June, but the ISM index of its activity came in slightly above forecasts.

The yield on the 10-year U.S. Treasury note rose two basis points to 4.25 percent. WTI crude for August delivery rose 0.97 percent to $65.74 a barrel, while Brent crude rose 0.99 percent to $67.40 a barrel. Spot gold rose 1 percent to $3,337.42 an ounce.

Jerome Powell, speaking Tuesday, once again stressed that the FOMC needs time to observe how Trump’s tariffs affect the economy and inflation before resuming interest rate cuts. The Fed chief has not bowed to pressure from the US president, who has repeatedly, often insultingly, called for monetary policy easing.