Consumer Tech News (June 30–July 4): Trump's Tax Bill Advances, S&P Hits Record, Nvidia Nears $4 Trillion, Apple Debuts iOS 26 Spam Filter

President Donald Trump signed his sweeping tax and spending package into law on Friday after it narrowly passed both houses of Congress last week.

The signing keeps his second-term agenda alive and sets the stage for big shifts in corporate taxes, consumer spending, and tech-sector investments.

Markets took the news in stride. Both the S&P 500 and Nasdaq 100 climbed to fresh record highs, lifted by solid economic data and the promise of policy stability.

For investors, the week delivered a rare mix of bullish momentum and clear direction.

Adding to the surprise, Trump unveiled a new trade deal with Vietnam. The agreement imposes steep tariffs—20% on Vietnamese imports and 40% on transshipped goods—but opens up full access for U.S. companies to Vietnam’s domestic market, a major win for American exporters, especially in consumer tech and electronics.

Technology

Nvidia Corp NVDA CEO Jensen Huang stock just closed at $159.34 on Thursday, less than 3% shy of the historic $4 trillion market cap milestone.

If it hits $164, it’ll become the first chipmaker — and only the second U.S. company after Microsoft Corp MSFT – to touch that number.

Apple AAPL is rolling out a new feature with iOS 26 that aims to curb spam by automatically filtering and silencing unwanted texts in its Messages app.

As part of the iOS 26 update, Apple is getting an enhanced spam screening tool within its Messages app

Alphabet’s GOOG GOOGL Google has been hit with an antitrust complaint by a group of independent publishers from the European Union.

The complaint is related to Google’s AI Overviews, a feature that provides AI-generated summaries above traditional hyperlinks in search results.

Alibaba Group Holding Limited BABA announced a strategic partnership with website builder Wix.com Ltd. WIX to simplify global commerce for entrepreneurs and small businesses in more than 200 markets.

Alibaba Group announced the pricing of HK$12.023 billion ($1.5 billion) in zero-coupon exchangeable bonds due 2032, marking the Chinese e-commerce giant’s latest move to fuel its artificial intelligence and cloud expansion strategy.

President Donald Trump said the U.S. is poised to resume negotiations with China as early as Monday or Tuesday over a potential deal involving TikTok’s U.S. operations.

Artificial Intelligence (AI)

OpenAI CEO Sam Altman said AI can now perform entry-level employee tasks, while Gen Z workers increasingly view artificial intelligence as a workplace companion rather than competition, as tech leaders predict the first billion-dollar single-person company could emerge next year.

Apple has the potential to outshine Meta Platforms’ META Ray-Ban smart glasses, says analyst Ming-Chi Kuo.

Apple investors are waiting for signs that the company is serious about artificial intelligence, according to Deepwater Asset Management’s Gene Munster.

A report emerged that the tech giant is exploring using large language models from OpenAI or Anthropic to power a revamped version of Siri by spring 2026.

Automobiles & Airlines

Boeing BA secured a $2.8 billion contract from the U.S. Space Force to develop and produce strategic satellite communications systems.

The contract covers Boeing’s Evolved Strategic Satellite Communications (ESS) program, which will deliver two satellites with options for two additional units.

Tesla TSLA released its second-quarter production and delivery results for 2025.

Tesla produced 410,244 vehicles and delivered 384,122 globally. The popular Model 3/Y vehicles accounted for the vast majority of these figures, with 373,728 deliveries for the quarter. The company also noted the deployment of 9.6 GWh of its energy storage products.

Lucid Group LCID said it produced 3,863 vehicles in the second quarter, up from 2,212 vehicles produced in the first quarter.

Rivian Automotive RIVN produced 5,979 vehicles between April and June and delivered 10,661 units from its Normal, Illinois, plant. Despite a planned reduction in output to prepare for its 2026 lineup, Rivian reaffirmed its full-year delivery guidance of 40,000 to 46,000 vehicles.

NIO NIO shipped 24,925 units in June, reflecting a 17.5% increase over the same month last year.

Xiaomi XIACF is exploring options to sell its vehicles overseas. CEO Lei Jun shared the company’s plans during a livestream.

Image: Shutterstock