U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
The S&P 500 ended Friday nearly unchanged in a volatile session, closing at 5,911.69, down just 0.01%. Despite the day’s choppiness, the benchmark index rose 6.2% in May—its strongest monthly gain since November 2023—while the Nasdaq surged 9.6%, also marking its best performance since then. The Dow Jones edged up 0.13% to 42,270.07, while the Nasdaq Composite slipped 0.32% to 19,113.77.
Investor sentiment wavered as U.S. President Donald Trump accused China of violating a trade agreement on his Truth Social platform, then pivoted to a more optimistic tone by suggesting a potential call with President Xi Jinping to resolve trade tensions. Market strategists say constant tariff-related headlines have created unpredictability, with some describing the news cycle as “maddening.”
May was marked by uncertainty due to Trump’s shifting trade stance, but easing inflation, solid earnings, and softer rhetoric later in the month helped stocks recover from April’s lows. The S&P 500 now sits less than 4% below its record high from February.
Meanwhile, U.S. consumer spending rose 2.1% year-over-year in April, slightly lower than March’s 2.3% increase. The Fed’s preferred inflation gauge, the PCE index, remains key to forecasting rate cuts, with markets still expecting a possible rate reduction in September.
Ulta Beauty stock jumped 11.8% after raising its full-year profit outlook. On the NYSE, declining stocks outpaced gainers by a 1.14-to-1 ratio, while the Nasdaq saw a 1.43-to-1 ratio of decliners to advancers. Trading volume reached 19.34 billion shares, above the 20-day average.
Trump-era tariffs, once at 2%-3%, now average 15%, with recent legal rulings stalling any near-term reduction.
