Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
U.S. stocks closed higher on Friday after the Supreme Court struck down President Donald Trump’s global tariffs, easing investor concerns and lifting major Wall Street indexes. The 6-3 ruling invalidated tariffs introduced last year under a federal law designed for national emergencies, sparking a relief rally across equity markets.
Although Trump criticized the decision and announced plans to implement a 10% global tariff for 150 days under Section 122 of the Trade Act of 1974, investors reacted positively. Market participants were reassured that the replacement tariff was lower than feared, reducing uncertainty around U.S. trade policy and its impact on corporate earnings.
The S&P 500 climbed 0.69% to 6,909.51, while the Nasdaq Composite surged 0.90% to 22,886.07. The Dow Jones Industrial Average advanced 0.47% to 49,625.97. For the week, the S&P 500 gained 1.08%, the Nasdaq rose 1.51%, and the Dow added 0.25%. Despite the weekly gains, the S&P 500 is up nearly 1% in 2026, trailing MSCI’s global stock index, which has risen more than 3%.
Technology heavyweights led the rally. Alphabet jumped 3.7%, Amazon gained 2.6%, and Apple rose 1.5%, supporting broader market momentum. Communication services surged 2.65%, making it the best-performing S&P 500 sector, followed by a 1.27% rise in consumer discretionary stocks. Companies previously pressured by tariffs, including Hasbro, Wayfair, Williams-Sonoma, and RH, also posted modest gains.
Investors remain focused on economic data and Federal Reserve policy. Recent reports showed slower U.S. economic growth in the fourth quarter and rising inflation in December. According to CME’s FedWatch Tool, traders see just over a 50% chance of a Fed rate cut by June.
Attention is also turning to Nvidia’s upcoming earnings, as volatility in AI-related stocks continues amid concerns over high valuations and uncertain returns on artificial intelligence investments. Meanwhile, trading volume was light at 18.3 billion shares, below the 20-session average of 20.3 billion.
