Dollar Holds Near Two-Month High as Yen Approaches 160 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Trump, Xi Focus on Trade and AI at White House Summit 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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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.
