Public Markets 8-Hour Briefing
×Asian Markets & Trade Policy
Samsung shares surged to a record high on speculation it will become a key Nvidia supplier, lifting the broader South Korean market. China and India led gains among Asian bourses after the Supreme Court blocked President Trump’s tariff authority, reversing earlier losses. Asian currencies broadly strengthened against the dollar as the ruling spurred risk-on sentiment across the region. Korea’s market rally, now the world’s best performer this year, is being fueled by President Lee Jae Myung’s pro-growth policies and foreign investment inflows.
US Futures & Dollar Slide
US stock futures dropped as traders digested fresh tariff uncertainty and braced for Nvidia’s earnings report. The dollar sold off against every major currency amid concerns that President Trump’s renewed tariff plans threaten the outlook for the world’s largest economy. This dollar weakness coincided with a slide in US futures, creating a risk-off tilt for American assets. Meanwhile, Australia secured a permanent exemption from Trump’s beef tariffs, a win for one of the largest foreign suppliers to the US market.
Commodities: Gold & Oil
Gold prices extended their winning streak on renewed tariff jitters, with silver also gaining as haven demand grew. Gold rose further after the court ruling threw existing US trade deals into doubt, increasing market uncertainty. In energy markets, oil fell on reports that President Trump is considering a limited initial strike on Iran, which could avoid a broader supply disruption. Oil prices also dropped as investors weighed the prospects for a new US-Iran nuclear agreement, with negotiations expected later this week.
Corporate Actions & Deals
Rolls-Royce is planning a £1.5 billion share buyback, a move to return capital to shareholders as the engineering firm navigates a recovery. In New Zealand, retail spending beat estimates in the fourth quarter, suggesting the economy maintained momentum through year-end. The private credit market is experiencing renewed anxiety, with concerns about Blue Owl’s performance rattling the $1.8 trillion sector despite years of solid returns.
Market Sentiment & Risks
The confluence of trade policy volatility and geopolitical maneuvering has left investors on edge. The swift reversal on US tariffs provided a temporary relief rally for export-dependent nations, yet the threat of renewed barriers continues to loom. Nvidia’s earnings now stand as a critical bellwether for the AI-driven tech rally, while movements in the dollar and gold reflect a market hedging against policy unpredictability.