Stocks mixed after the Senate approves Trump's tax bill, Apple considers AI tech for Siri

Market Trends & Economic Indicators - The market reacted lukewarmly to the GOP's mega bill after Senate approval [1] - Stocks ended the day mixed, with the tech sector dragging the NASDAQ down [2] - Positive labor market data showed job openings reaching their highest levels since November 2024 [19] - Bloomberg estimates indicate 110,000 jobs added in the upcoming non-farm payroll report, with the unemployment rate potentially ticking slightly higher to 43% [21][43] - Goldman Sachs notes that Bitcoin has outperformed, up about 15% year-to-date, alongside high beta nonprofitable tech, indicating potential market frothiness driven by retail traders [28] Apple & AI - Apple is considering incorporating large language models from Anthropic or OpenAI into its technology, potentially impacting consumers and investors [2][3] - Analysts at CFRA believe Apple has fallen behind in the AI race but expect the company to get it right over the next 12 months, uniquely positioned as a distributor of AI to consumers [8] - Apple's commitment to privacy and security creates tension with the need to compete in the rapidly advancing AI space [11] - The absence of a new version of Siri could impact the iPhone upgrade cycle [12] - Apple's approach to AI development differs from competitors, prioritizing performance and meeting internal requirements, potentially leading them to seek external expertise [16] Travel & Independence Day - Approximately 21 million seats are expected to depart between Wednesday and Monday of next week for Independence Day, exceeding the last 5 years [32] - Domestic airfares for Fourth of July are around $260, down 3%, while international airfares to Europe and Asia are down about 13% [34] - Airfare to Europe for Fourth of July is around $840 per ticket, down 13% year-over-year, and airfare to Asia is around $1,300 per ticket, also down 13% [35] - Hotel rates in the US are around $213 per night, lower than the summer average, while rental car prices are about $58 per day, up $10 from other summer weekends [36][37] Tesla & Electric Vehicles - Analysts forecast Tesla to report global deliveries of about 390,000 for the second quarter, an 11% decline year-over-year [41] - Benchmark raised its price target on Tesla stock to $475, citing full self-driving and the robo taxi business [42] - Tesla stock experienced a decline of 5% due to the removal of EV credits from the Senate bill [22]