The One Big Beautiful Bill: What It Means for Markets
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Earlier this month, the One Big Beautiful Bill Act was signed into effect, introducing a range of incentives aimed at supporting U.S. businesses. Key provisions include expanded bonus depreciation, enhanced credits for manufacturing and R&D, and changes to international tax rules. While the bill includes some complex and potentially controversial elements, such as its impact on the deficit and government spending, this week’s Money with Murphy focuses on how the business-related provisions could influence companies—and, in turn, investment portfolios.

In the second quarter, markets took investors on a wild ride—from a sharp selloff that nearly pushed stocks into bear market territory to a powerful rebound that ended with new all-time highs. Bonds also posted gains, while the U.S. dollar saw a notable decline. Economic data remained supportive, with easing inflation and strong job growth helping stabilize sentiment. In this week’s Money with Murphy , Kara breaks down the key drivers behind Q2’s volatility, what the latest numbers are telling us, and why diversification remains critical heading into the second half of the year.