Daily Super Summary:

Catastrophic flooding in Kerr County, Texas, has resulted in a devastating loss of life, with at least 13 to 24 people confirmed dead and over 20 children from Camp Mystic summer camp still missing. The disaster was triggered by heavy rainfall, with some areas along the Guadalupe River receiving more than 10 inches of rain. Multiple major news outlets report that search and rescue operations are ongoing, as emergency responders work tirelessly to locate the missing and provide aid to survivors. The scale of the tragedy has prompted widespread concern and underscores the vulnerability of communities to extreme weather events, particularly during the summer months when camps and outdoor activities are in full swing.

The impact of the flooding extends beyond Kerr County, as severe weather has caused additional fatalities in Texas and at least three deaths in New Jersey. The storms have disrupted Fourth of July celebrations in several towns, highlighting the broader consequences of extreme weather across the United States. Authorities continue to monitor the situation and urge residents in affected areas to remain vigilant, as further rainfall and hazardous conditions may persist. The widespread nature of the storms has strained emergency services and brought renewed attention to the need for preparedness and infrastructure improvements to mitigate the effects of such disasters in the future.

In a significant development on the legislative front, President Donald Trump signed a major tax cut and spending bill, known as the "Big Beautiful Bill," into law during Fourth of July celebrations. The bill introduces car-buying incentives, expands the SALT deduction, and enacts substantial changes to taxes, health care, and immigration policy. According to the Congressional Budget Office, the legislation is projected to add $3.4 trillion to the federal deficit over the next decade. The bill has elicited strong partisan reactions, with Republicans emphasizing the benefits of tax relief while Democrats criticize reductions in Medicaid and social benefits. Multiple mainstream news outlets confirm the details and the ongoing debate surrounding the bill's fiscal and social implications.


Market Impact:

🔸

The overall market impact is mildly negative. The catastrophic flooding and loss of life in Texas, along with severe weather disruptions across multiple states, create significant uncertainty and strain on emergency services, potentially affecting local economies and insurance sectors. While the passage of a major tax cut and spending bill could offer some economic stimulus and sector-specific benefits, the projected increase in the federal deficit and contentious reductions in social spending introduce fiscal concerns and policy uncertainty. The negative effects of the natural disasters outweigh the positive legislative developments, resulting in a net mild negative impact.

Legend:
🔴 = Strong Negative Impact    🔸 = Mild Negative Impact    ⚪ = Neutral    🔹 = Mild Positive Impact    🔵 = Strong Positive Impact


7/5/2025 9:31:47 AM EDT

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Kerr County flooding: Camps working to locate missing campers

Camp Mystic in Hunt, Texas, notified parents some of their children may be missing amid the major Fourth of July floods....

KENS5.com - 7/4/2025 6:09:00 PM More News for
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Several killed in severe weather in Texas and New Jersey

In New Jersey, three people died in a storm while in Texas, officials say there is "confirmed loss of life" due to "catastrophic flooding"....

BBC - 7/4/2025 6:04:51 PM More News for
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Live updates: Flooding along Guadalupe River in Kerr County and other parts of Texas turns deadly

Widespread rainfall of 4 to 6 inches, with some reports of over 10 inches, has fallen since Thursday evening, prompting multiple flash flood emergencies....

CNN - 7/4/2025 5:56:00 PM More News for
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Trump proposes UFC fight on White House grounds for America250 celebration

The president announced plans to bring the octagon right to the White House in celebration of the country's 250th anniversary....

ABC News - Breaking News, Latest News and Videos - 7/4/2025 5:51:16 PM More News for
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Hot Dogger Joey Chestnut Regains Coney Island Eating Contest Title

Joey Chestnut regained his top dog title today by consuming 70.5 wieners at the 2025 Nathan's Famous Hot Dog Eating Contest in Coney Island, Brooklyn....

Deadline - 7/4/2025 5:23:00 PM More News for
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Christian Horner insists Max Verstappen ‘would like to finish his career in a Red Bull car’ amid Mercedes rumours

Christian Horner has stated that Max Verstappen “would like to finish his career in a Red Bull car”. with the team boss insisting that the squad “know where we’re at” amid continued rumours linking the Dutchman to Mercedes....

Formula 1 - 7/4/2025 5:12:09 PM More News for
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Ukraine hit by major attack as Trump says Putin won't 'stop'

Russia attacked Ukraine with 550 drones and missiles, as US President Donald Trump said he was disappointed by his latest call with Vladimir Putin. Follow DW for more....

DW - 7/4/2025 5:08:59 PM More News for
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Russia hits Ukraine with largest aerial attack as Trump talks to Zelenskyy and Putin

Russian missiles and drones hammered Kyiv in an overnight attack, the largest aerial assault on the Ukrainian capital since the war began more than three years ago....

NPR - 7/4/2025 5:02:17 PM More News for
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Switch 2 USB-C Chip Might Be Breaking Compatibility With Third-Party Docks

No one could USB-C this... - With the launch of the Switch 2, accessory manufacturers have been rushing to bring their products to the market in a bid to off......

Nintendo Life - 7/4/2025 4:45:00 PM More News for
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Trump has ‘good conversation’ with Zelenskyy after heavy bombardment of Ukraine by Russia

US munitions slated for Ukraine held up over shortage as Trump ‘disappointed’ by Putin’s refusal to make concessions...

The Guardian - 7/4/2025 4:18:45 PM More News for
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Storm related deaths reported from severe rain in Texas and New Jersey

Multiple deaths have been reported in Texas after heavy rain caused flash flooding. Search teams used boats to conduct rescues Friday as fast-moving water threatened riverfront communities near wildlife habitats and campgrounds....

AP News - 7/4/2025 3:53:00 PM More News for
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The Great American EV Fire Sale Is About to Begin

President Trump’s “One Big Beautiful Bill” just wiped out key clean energy subsidies. If you want that $7,500 EV discount, act fast....

Gizmodo - 7/4/2025 3:37:39 PM More News for
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From taxes to health care to immigration, Trump's 'big, beautiful bill' will have big impact on Long Island

So far, attention locally has focused on a boost in the SALT deduction to $40,000....

Newsday - 7/4/2025 3:06:01 PM More News for
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'Jurassic World Rebirth' Earns $25.3 Million on Thursday

'Jurassic World Rebirth' is dominating the Fourth of July box office weekend, earning $25.3 million on Thursday....

Variety - 7/4/2025 3:02:00 PM More News for
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Massive Review Finds No 'Safe' Level of Processed Meat Consumption

We know that processed meat isn't particularly good for us, having already been linked to dementia, diabetes, and cancer, but how much of it counts as a 'safe' level of consumption? According to new research, there's no such thing....

ScienceAlert - 7/4/2025 3:01:27 PM More News for
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Oasis begins reunion tour in Cardiff after 16-year hiatus

Oasis' highly anticipated tour is about to kick off. The Britpop legends led by famously feuding brothers Noel and Liam Gallagher kick off their tour Friday in the Welsh capital of Cardiff....

AP News - 7/4/2025 2:54:00 PM More News for
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