_edited_edited.png)
Thursday Afternoon Coffee - Markets Update - 29 May 2025 - Markets Rebound as U.S. Court Blocks Trump Tariffs; Dollar Slips, Gold Gains
- The Trade Academy Team
- 4 days ago
- 2 min read
Markets Update: U.S. stocks edged higher Thursday, rebounding after a trade court struck down the Biden administration’s latest tariff package—a surprise decision that rattled the dollar and lifted gold, while bond yields dipped and oil prices fell.
Global Markets Roundup: 29 May 2025
The ruling from the U.S. Court of International Trade late Wednesday invalidated President Donald Trump’s sweeping April 2 “Liberation Day” tariffs, arguing the administration had overstepped its authority. The Trump administration has already filed an appeal, potentially setting the stage for a protracted legal battle up to the Supreme Court.
Wall Street Climbs After Legal Twist
Equity markets welcomed the decision, viewing it as a brake on escalating trade tensions. Major indexes rose across the board, reversing some of Wednesday’s losses, with chipmaker Nvidia gaining 4% after posting better-than-expected earnings.
Dow Jones Industrial Average: +46.56 points (+0.11%) to 42,146.94
S&P 500: +18.73 points (+0.32%) to 5,907.51
Nasdaq Composite: +91.46 points (+0.48%) to 19,192.11
Global Equities Mixed
MSCI’s global stock gauge rose 0.42% to 880.05, reflecting broader optimism. In Asia, the MSCI Asia-Pacific index (excluding Japan) closed 0.77% higher, while Europe’s STOXX 600 slipped 0.13% after earlier gains.
Dollar Drops as Safe Havens Shine
The U.S. dollar initially strengthened on the court news but reversed course after weaker-than-expected labor data, which showed a larger-than-forecast increase in jobless claims. The greenback fell sharply against traditional safe havens.
Treasury Yields Ease
U.S. Treasury yields slipped as investors weighed the ruling’s impact on fiscal projections and tax-related revenue streams embedded in the budget framework. The retreat came after a modest rise earlier in the session.
10-year Yield: -3.1 bps to 4.448%
30-year Yield: -2.6 bps to 4.9521%
Commodities React to Shifting Sentiment
Gold climbed amid demand for safe-haven assets and as the weaker dollar supported metals prices. Meanwhile, oil prices retreated on demand concerns out of China and potential new sanctions on Russian crude.
Gold (Spot): +0.74% to $3,313.77/oz
Gold (Futures): +0.49% to $3,311.10/oz
Brent Crude: -1.53% to $64.91/barrel
WTI Crude: -1.89% to $60.67/barrel
Grains Move Higher
Soybeans rallied above $10.50 per bushel as the weakening dollar spurred fresh investor interest in U.S. agricultural exports.
Soybeans (ZS1!): +0.76% to $10.54 ¼/bushel
Outlook
With the Trump administration vowing to appeal the court’s decision, the trade landscape remains uncertain. Investors will closely watch for legal developments and any signs of escalation in trade rhetoric as markets adjust to the possibility of a recalibrated U.S. tariff policy.
Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team
