Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
U.S. stocks closed higher Thursday, driven by Nvidia’s strong performance, even as trade policy concerns resurfaced. The S&P 500 gained 0.4%, the Dow rose 0.3%, and the Nasdaq added 0.4%. All major indexes are on track for weekly and monthly gains, with the S&P 500 up 5.7% this month and the Nasdaq leading with a 9.5% jump.
Investor sentiment was rattled by a legal tug-of-war over former President Donald Trump’s proposed reciprocal tariffs. A federal appeals court reinstated the tariffs Thursday, days after the Court of International Trade blocked them, ruling Trump exceeded his authority under the International Emergency Economic Powers Act. Both sides are expected to present further arguments in early June.
Despite the uncertainty, Nvidia (NASDAQ: NVDA) rallied on strong first-quarter earnings, fueled by high demand for AI chips and data center servers. The company also noted an $8 billion sales impact from U.S. export restrictions to China but remained optimistic. Analysts, including Wedbush, called the forecast “impressive,” reinforcing Nvidia’s role as a key AI growth indicator.
Tesla (NASDAQ: TSLA) also gained after CEO Elon Musk announced his departure from the Trump administration to focus fully on Tesla. Meanwhile, Kohl’s (NYSE: KSS) rose on a narrower-than-expected loss and reaffirmed annual targets, while Best Buy (NYSE: BBY) fell after cutting its 2026 outlook due to tariff risks.
Economic data painted a weaker picture, with Q1 GDP contracting 0.2%, revised slightly from the initial 0.3% decline. Unemployment claims rose to 240,000 last week, signaling softening labor conditions. Markets now turn to upcoming comments from several Federal Reserve officials for insight into future monetary policy.
