US equity markets are entering the long weekend in a festive mood helped by a jobs report that was better than feared and the prospect of the Big Beautiful Bill landing on President Trump’s desk before the holiday, just as he drew it up. However, Representative Hakeem Jefferies will have something to say about that, actually, 8 hours and counting of somethings. Today is an abbreviated trading session and keeping with that spirit we’re attempting to deliver a more concise message than Mr. Jefferies (for the few poor souls who are actually reading along). This has been a rather long, short, record-breaking week both on the Hill and Wall Street. For the week the S&P 500 closed up 1.7%, closing at a new all-time high. Small and midcap indices outperformed ending up >3% as investors tried to find opportunities in areas of the market that have underperformed YTD with the Russell 2k moving into the green for the year.

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