Independence Day closure leaves fiscal and tariff policy in focus

U.S. markets were closed for Independence Day, leaving QQQ at the prior close of 556.22 and SPY at 625.34. Trump signed the U.S. tax-and-spending bill and said 12 trade letters would be sent on Monday with tariff rates ranging from 10% to 70%. U.S.-EU talks entered a final weekend round without a breakthrough. Separate reports highlighted possible pressure on Tesla's regulatory-credit revenue and publisher complaints over Google's AI Overviews.