Trump Tax Bill Faces GOP Resistance Ahead of House Vote
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Yahoo
22 minutes ago
- Yahoo
Dollar drifts as traders hunker down for US payrolls
By Ankur Banerjee SINGAPORE (Reuters) -The dollar wobbled on Thursday after a trade agreement between the United States and Vietnam fuelled optimism over potential future deals ahead of a July 9 tariff deadline, while investors looked to payrolls to assess the Federal Reserve's next steps. Sterling firmed slightly after a sharp drop the previous session as British Prime Minister Keir Starmer's office rushed to give Finance Minister Rachel Reeves his full backing, hoping to allay investor worries about Britain's finances. The pound dropped nearly 1% and British government bonds tumbled on Wednesday, as a tearful appearance by Reeves in parliament a day after the government backed down on its welfare reforms reignited concern over Britain's finances. The pound last fetched $1.3647, slightly higher in Asian hours, while the euro was steady at $1.1806, hovering close to the September 2021 top it touched earlier this week. The yen firmed a bit to 143.56 per dollar. The dollar index, which measures the U.S. currency against six other units, was at 96.701, still near the 3-1/2-year lows it has been rooted to this week. The index is on course for a 0.5% drop in the week. Investor attention will be on the U.S. Labor Department's comprehensive employment report for June, due to be released on Thursday ahead of the July 4 holiday after data showed private payrolls fell for the first time in more than two years in June. The ADP report released on Wednesday pushed traders to shift expectations of when the Fed will cut interest rates. Traders are pricing in 25% chance of the Fed moving in July versus 20% a day earlier, CME FedWatch tool showed. "The ADP print has certainly raised the stakes for nonfarm payrolls today," said Charu Chanana, chief investment strategist at Saxo in Singapore. "What could earlier have been interpreted as 'bad news is good news' (softer data pushing the Fed to cut) may now simply be seen as bad news, especially if recession concerns take hold." Ahead of the July 9 tariff deadline, President Donald Trump announced Vietnam had struck a trade deal with the U.S. and could push other countries to reach similar agreements on duties. Although details were scant, Trump said Vietnamese goods would face a 20% tariff and trans-shipments from third countries through Vietnam will face a 40% levy. "What's important to watch now is how China responds, given that the move directly targets trans-shipped goods at a higher 40% tariff rate," said Saxo's Chanana. "It's a clear signal that global supply chains are being reshaped, and more disruption may be ahead." Meanwhile, Republicans in the House of Representatives struggled to pass Trump's massive tax-cut and spending bill as a handful of hardliners withheld their support over concerns about its cost. The bill is expected to add $3.3 trillion to the already swelling national debt, stoking fiscal worries. Bond investors around the world are growing increasingly nervous about government deficits from Japan to the United States. Eddy Loh, chief investment officer at Maybank Wealth Management, said the U.S. government may be "somewhat constrained about how much fiscal support they can do to boost the economy without creating too many deficit concerns." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
24 minutes ago
- Associated Press
HIMS LAWSUIT ALERT: Levi & Korsinsky Notifies Hims & Hers Health, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
NEW YORK - July 2, 2025 ( NEWMEDIAWIRE ) - Levi & Korsinsky, LLP notifies investors in Hims & Hers Health, Inc. ('Hims & Hers Health, Inc.' or the 'Company') (NYSE: HIMS) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Hims & Hers Health, Inc. investors who were adversely affected by alleged securities fraud between April 29, 2025 and June 23, 2025. Follow the link below to get more information and be contacted by a member of our team: HIMS investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Hims was engaged in the 'deceptive promotion and selling of illegitimate, knockoff versions of Wegovy(R) that put patient safety at risk;' (2) as a result, there was a substantial risk that the Company's collaboration with Novo Nordisk would be terminated; and (3) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. WHAT'S NEXT? If you suffered a loss in Hims & Hers Health, Inc. during the relevant time frame, you have until August 25, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To learn more about this case, subscribe to the Bulls & Betrayals podcast, which features a dedicated episode unpacking the allegations against Hims & Hers Health, Inc.. Listen now and find out if you are eligible to join the lawsuit. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171
Associated Press
24 minutes ago
- Associated Press
APPLOVIN ALERT: Bragar Eagel & Squire, P.C. is Investigating AppLovin Corporation on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm
NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against AppLovin Corporation (NASDAQ:APP) on behalf of long-term stockholders following a class action complaint that was filed against AppLovin on March 5, 2025 with a Class Period from May 10, 2023 to March 26, 2025.. Our investigation concerns whether the board of directors of AppLovin have breached their fiduciary duties to the company. The AppLovin class action lawsuit alleges that defendants throughout the Class Period created the false impression that AppLovin's enhanced AXON 2.0 digital ad platform, in addition to its 'cutting-edge AI technologies,' would more efficiently match advertisements to mobile games, in addition to expanding into web-based marketing and e-commerce. In truth, AppLovin was exploiting advertising data from Meta Platforms and using manipulative practices that forced unwanted apps on customers via a 'backdoor installation scheme' which inaccurately inflated installation numbers, and, in turn, its profit figures, the complaint alleges. The AppLovin class action lawsuit further alleges that on February 26, 2025, analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms. The reports further alleged AppLovin was utilizing manipulative practices to artificially inflate their own ad click-through and app download rates, such as by having ads click on themselves or utilizing design gimmicks to trigger forced shadow downloads, erroneously inflating installation numbers and, in turn, its profit figures, the complaint alleges. On this news, the price of AppLovin shares fell by more than 12%, the AppLovin class action lawsuit alleges. If you are a long-term stockholder of AppLovin, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit Attorney advertising. Prior results do not guarantee similar outcomes. Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected]
