Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
U.S. stocks ended higher Thursday, lifted by Nvidia’s (NASDAQ:NVDA) strong quarterly performance, despite investor unease over conflicting court rulings on Trump-era tariffs. The S&P 500 gained 0.40%, the Dow rose 0.28%, and the Nasdaq added 0.39%.
Nvidia shares climbed 3.2% after it reported robust sales fueled by a surge in demand for AI chips ahead of U.S. export restrictions to China. However, the company warned the new curbs could cut $8 billion from next quarter’s sales. Nvidia is now up just 3.6% year-to-date and was the final "Magnificent Seven" tech giant to report this season.
The session was marked by volatility after a late-day appeals court ruling reinstated sweeping tariffs introduced by former President Donald Trump, just a day after a lower court had blocked them. Market watchers, however, appeared less reactive. "These court rulings are just headlines," said Adam Sarhan of 50 Park Investments, noting Trump often rolls back tariffs after making bold announcements—a trend dubbed "TACO" (Trump Always Chickens Out).
Salesforce (NYSE:CRM) fell 3.3% despite raising its annual forecasts, while Best Buy (NYSE:BBY) sank 7.3% on weaker sales guidance due to tariff concerns. Boeing (NYSE:BA) rose 3.3% after announcing plans to ramp up 737 MAX production.
Investors are focusing on corporate earnings as a key driver. “It’s about earnings in general,” said Oliver Pursche of Wealthspire Advisors. First-quarter GDP data showed a 0.2% contraction, slightly better than the expected 0.3% decline.
Market breadth was strong, with advancing stocks outnumbering decliners 2.26-to-1 on the NYSE and 1.48-to-1 on the Nasdaq. Trading volume hit 18.65 billion shares, above the 20-day average of 17.7 billion, reflecting heightened investor activity amid mixed economic and policy signals.
