Trade-policy turns and China PMIs lead Sunday headlines

U.S. markets were closed for the weekend, leaving QQQ and SPY at Friday's closing levels. Canada canceled its digital-services tax and resumed trade talks with the United States, while Trump said the July 9 tariff deadline did not need an extension. The CBO estimated that the tax-and-spending bill would add nearly $3.3 trillion to U.S. deficits over ten years, and Trump called for interest rates of 1% or 2%. China's June composite PMI rose to 50.7, while manufacturing PMI remained below 50 at 49.7.