The US stock market has begun the second half of the year on a downward trend, with the S&P 500 and Nasdaq slipping from recent record highs. Key concerns include ongoing deliberations around the Trump tax bill, renewed hostilities between Trump and Musk, and rising yields affecting investor sentiment. Following a remarkable second quarter, stocks are facing profit-taking and uncertainty over trade agreements and upcoming labor market data. Major indices, including the Dow Jones, are also reflecting these pressures as lower futures signal a cautious approach in the market.