Overview of Key Overnight Developments on July 4

21:00-7:00 Keywords: Big and Beautiful Act, Tax Reform Bill, Trump 1. Trump: Today's data is good news, much better than expected; 2. The "Big and Beautiful" Act has passed the vote in the U.S. House of Representatives and is now awaiting the President's signature; 3. U.S. Senator Cynthia Lummis has introduced a comprehensive crypto tax reform bill; 4. U.S. Treasury Secretary: If the Federal Reserve does not cut rates, the rate cut in September may be larger; 5. Federal Reserve's Bostic: The U.S. economy may experience a longer period of high inflation; 6. Web3 gaming platform Distinct Possibility Studios has completed a $30.5 million funding round; 7. White House: Trump will sign the Big and Beautiful Act into law at 5:00 a.m. (UTC+8) on July 5.