Public Markets 3h Briefing
×Market Moves
The S&P 500 bloomberg.com declined as tariff uncertainty rattled investors. European stocks investing.com retreated on trade concerns, while FTSE 100 investing.com edged lower amid tariff worries. US stock futures fell sharply wsj.com as tariff uncertainty dominated market sentiment.
Currencies & Commodities
Gold and silver climbed higher amid tariff uncertainty. The dollar bloomberg.com continues to face pressure as UBS notes tariff concerns are just one factor weighing on the currency. Copper bloomberg.com remains well supported as tariff uncertainty drives dollar decline. Eurozone government bond yields wsj.com edged lower, tracking moves in Treasurys amid tariff policy uncertainty.
Corporate Developments
Johnson Matthey ft.com slashed the price on its sale of key unit to Honeywell from £1.8bn to £1.3bn. Renault wsj.com plans to take full control of electric-van joint-venture Flexis by acquiring Volvo AB's 45% stake and CMA-CGM's 10% stake. Enel bloomberg.com plans to deepen commitments in US and Europe with a $63 billion investment in renewable energy projects over the next three years.
Trade Policy & Geopolitics
The US Supreme Court bloomberg.com ruled Trump's tariffs under the IEEPA as illegal, though was silent on refunds. Businesses face more litigation to get tariff refunds as the decision likely goes back to the US Court of International Trade. The EU finance.yahoo.com stated it will accept no increase in US tariffs after the Supreme Court ruling. Oil bloomberg.com stands to rally strongly as war between the US and Iran appears imminent.