Selloff across US indices slowed yesterday, but bulls are still hesitant. The Supreme Court hearing on Trump’s tariffs stirred the pot, with even the GOP-appointed justices looking skeptical. Prediction markets slashed the odds of those tariffs surviving, which might sound like good news… but really, it just adds uncertainty, more than $100 billion in potential refunds and a fatter US deficit.
Yields climbed across the curve, helped along by slightly better ADP job numbers, and the 2-year jumped past 2.60%, weakening the Fed doves’ hands. In Asia, Hang Seng bounced above its 50-DMA, SMIC jumped 5% and Alibaba rebounded after the Chinese government banned foreign chips in state-funded data centers. Gold is acting weird, the US dollar stalled at the 200-DMA, and European carmakers might feel the Nexperia pinch. Weather’s cloudy, dip-buyers are lurking, and the market drama continues. Watch the full episode to find out more!
