US Morning News Call | Trump's 'Big Beautiful' Budget Bill Passes House Vote

Futures tied to the $E-mini S&P 500 Futures (JUN5) (ESmain.US)$ rose 0.01%. $E-mini NASDAQ 100 Futures (JUN5) (NQmain.US)$ went up by 0.17%, and $E-mini Dow Futures (JUN5) (YMmain.US)$ went down 70 points, or 0.17%.

President Donald Trump announced he is giving "very serious consideration" to taking mortgage giants $FEDERAL NATIONAL MORTGAGE ASSOC (FNMA.US)$ and $FREDDIE MAC (FMCC.US)$ public, potentially ending more than 15 years of government control. "Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right," Trump posted on his social media platform.

$Bitcoin (BTC.CC)$ surged past $110,000 for the first time on Wednesday, extending its remarkable rally and cementing its position as the world's fifth-largest asset by market capitalization. The cryptocurrency's total value reached approximately $2.2 trillion, surpassing Amazon's $2.15 trillion market cap and trailing only gold, Apple, Microsoft, and Nvidia.

Shares of cloud data platform $Snowflake (SNOW.US)$ jumped after the company reported better-than-expected first-quarter results and provided an optimistic revenue forecast. For the quarter ended April 2025, Snowflake posted product revenue of $996.8 million, up 26% year-over-year, and adjusted earnings of 24 cents per share, exceeding analyst expectations of 22 cents.