Dow Jones futures will reopen Sunday evening, along with S&P 500 futures and Nasdaq futures. President Donald Trump signed his budget bill into law on the Fourth of July, with Trump tariffs in focus once again. Elon Musk plans to form a new political party with Tesla (TSLA) losing big tax credits.

The stock market rally had another strong week, with the S&P 500 and Nasdaq moving further into record territory and the Dow Jones almost there.

Tesla stock fell modestly last week amid a variety of headlines. Shares are down slightly since the June 22 robotaxi launch, while Uber (UBER) and Mobileye (MBLY) have been big winners, with Uber stock breaking out Thursday.

Cadence Design Systems (CDNS), Nextracker (NXT), ServiceNow (NOW) and Shopify (SHOP) also are in buy areas.

Delta Air Lines (DAL) reports earnings on July 10, kicking off Q2 results for airlines. Also on Thursday, AI chip giant Taiwan Semiconductor Manufacturing (TSM) will release June and Q2 sales, which will be important for customers such as Nvidia (NVDA), Broadcom (AVGO), Apple (AAPL) and many more.

The video embedded in the article discusses the recent stock market action and analyzes Uber, ServiceNow stock and LPL Financial (LPLA).

Trump Budget Signed, Tariff Letters Next
President Trump on Friday afternoon signed his huge tax-and-spending package into law. Meanwhile, Trump said late Thursday that he would send dozens of letters by July 9 telling other nations what additional tariffs he'll impose unilaterally on their goods. Wednesday, July 9 is the end of a 90-day pause for Trump's "Liberation Day" tariffs.

Dow Jones Futures Today
Dow Jones futures will reopen at 6 p.m. ET. Futures fell modestly Friday, with U.S. stock markets closed for Independence Day.

OPEC+ said Saturday that it will increase oil output in August, a fourth straight monthly increase and larger than expected. The move may continue to pressure prices, punish OPEC members that are exceeding quotas and squeeze higher-cost U.S. shale production.

Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.

Stock Market Rally
The stock market rally had a short but sweet week, with the S&P 500 and Nasdaq continuing to hit highs while the Dow Jones finished within 1% of all-time levels. Even the long-lagging Russell 2000 finally cleared its 200-day line. A U.S.-Vietnam trade deal and the June jobs report were positive catalysts.

The Dow Jones Industrial Average rose 2.3% in last week's stock market trading. The S&P 500 index climbed 1.7%. The Nasdaq composite advanced 1.6%. The small-cap Russell 2000 jumped 3.5%.