Public Markets 8-Hour Briefing
×Market Overview
US stock futures fell as investors grappled with renewed tariff uncertainty after initially responding positively to the Supreme Court's ruling against large portions of Trump's tariff regime. European stocks retreated as trade uncertainty continued to weigh on risk appetite globally.
Stock Movers
Johnson Matthey shares sank 15% after Honeywell trimmed the deal price for Johnson Matthey's key unit to £1.33 billion from the original agreement. JD Sports surged on a £200 million buyback program announcement, while Enel jumped after the utility unveiled a €53 billion investment plan focused on renewables. Lufthansa kept unit costs stable in the final quarter, indicating cost-cutting efforts are paying off. Delta Electronics became Thailand's first $100 billion company after a US Supreme Court ruling improved the demand outlook for its AI cooling equipment.
Tariff Developments
Trump's 15% global tariff proposal continues to create market uncertainty. The Supreme Court ruled against Trump's tariff regime under the IEEPA, though was silent on the issue of refunds, which is likely to go back to the US Court of International Trade. US customs announced it will stop collecting Trump tariffs from February 24 after the court ruling. China stocks in Hong Kong rallied after the US Supreme Court struck down President Trump's emergency tariffs.
Regional Markets
Asian markets showed resilience despite US tariff uncertainties, with South Korea and Taiwan setting new records. Saudi firms are advancing IPO plans, testing investor appetite in Riyadh amid volatile oil prices and geopolitical risks. Thailand sees upside to the Trump court-ordered US tariff reset, which could strengthen the country's appeal as a manufacturing and investment hub. IDFC First Bank tumbled 15% after India's Haryana state flagged account gaps.
Commodities & Currencies
The dollar retreated amid renewed trade uncertainty, while gold rose as global trade faces new Trump tariff threats. Copper steadied as traders weighed shifts in US trade policy. US natural gas jumped on a powerful winter storm and higher LNG exports. Oil stands to rally as a potential US-Iran conflict looms, with prices potentially reaching the $75-$90 range.