01 Stock Market
The U.S. major indexes closed as follows: Dow Jones down 1.66% at 48,804.06; S&P 500 down 1.04% at 6,837.75; NASDAQ down 1.13% at 22,627.27. Broader benchmarks retreated as renewed tariff headlines and legal uncertainty weighed on risk appetite. Megacap tech finished mostly lower, though strength in precious metals-linked instruments offered some offset within defensives.Unusual-move stocks were mixed, with defensive precious-metals proxies firmer and several megacaps declining. Nvidia up 0.91% at $191.55. Apple up 0.60% at $266.18. Microsoft down 3.21% at $384.47. Meta Platforms down 2.81% at $637.25. Alphabet down 1.02% at $311.69. Amazon down 2.30% at $205.27. Tesla down 2.91% at $399.83. Advanced Micro Devices down 1.77% at $196.60; Intel down 1.09% at $43.63. Oracle down 4.57% at $141.31. Novo Nordisk down 16.43% at $39.63 following trial news.Safe-haven-linked ETFs advanced while select China ADRs outperformed. iShares Silver Trust (SLV) up 5.16% at $80.57; ProShares Ultra Silver (AGQ) up 10.07% at $174.48; SPDR Gold ETF (GLD) up 2.70% at $481.28. Among ADRs, PDD Holdings up 0.78% at $105.76 and NIO up 4.34% at $5.29. Broad market proxies reflected the downside bias: SPDR S&P 500 (SPY) down 1.02% at $682.39; Invesco QQQ (QQQ) down 1.22% at $601.41; Vanguard S&P 500 (VOO) down 1.01% at $627.63.02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.03%.USD/CNH rose 0.00%, at 6.91; USD/HKD fell 0.0051%, at 7.82.U.S. Dollar Index fell 0.0031%, at 97.72.WTI crude futures fell 0.02%, at 66.30 USD/bbl; COMEX gold futures rose 0.54%, at 5,254.00 USD/oz.03 Top News
1. European Parliament Postponed A Vote On The EU–U.S. Trade Deal Amid Tariff Turmoil. Lawmakers delayed progress after the U.S. announced a broad temporary tariff, complicating prior commitments. The move adds uncertainty to transatlantic trade flows and implementation timelines.
2. U.S. Supreme Court Struck Down A Sweeping Emergency Tariff Program, Limiting Unilateral Powers. The ruling curtails rapid tariff deployment under emergency statutes, prompting a policy reset. Businesses and agencies are preparing for procedural changes and potential reconfigurations of duties.
3. The Administration Introduced A Temporary 15% Global Tariff Under Alternative Authority, Heightening Planning Risk. Officials indicated scope and exemptions would be set separately, leaving company-level impacts fluid. Corporates are reassessing supply chains and pricing strategies while awaiting further guidance.
4. U.S. Customs And Border Protection Said It Will Stop Collecting Invalidated Tariffs And Update Codes. The agency notified shippers that impacted entries will be processed under revised schedules. Importers are evaluating refund pathways and compliance adjustments.
5. The Administration Launched New Trade Investigations That Could Lead To Additional Levies. These probes follow longer statutory timelines, reducing abrupt policy shocks but prolonging headline risk. Companies and partners are mapping scenarios as cases advance.
6. Former President Donald Trump Renewed Criticism Of The Supreme Court And Vowed To Use Other Tariff Tools And Licenses. He signaled leveraging alternative authorities after the court’s decision, though specifics remain limited. The remarks added to market uncertainty around trade policy direction.
7. Merck Created A Separate Oncology Division To House Keytruda And Related Cancer Assets. The restructuring aims to diversify beyond patent cliffs while sharpening focus on oncology execution. Management also named new leadership for the cancer business to drive commercialization.
8. Gilead Sciences Agreed To Acquire Arcellx For Up To $7.8 Billion To Expand Cell Therapy. The deal includes $115 per share in cash plus a potential $5 contingent value right, accelerating Gilead’s CAR‑T pipeline. The transaction is expected to be accretive to earnings after commercial milestones.
9. Domino’s Reported U.S. Same-Store Sales Growth Above Expectations, Citing Value Promotions. Management highlighted the impact of menu innovations and third‑party delivery partnerships. Shares moved higher as investors assessed market share gains in budget‑conscious segments.
10. Novo Nordisk Reported That Obesity Candidate CagriSema Failed A Non‑Inferiority Endpoint Versus Lilly’s Tirzepatide. The outcome underscored competitive headwinds in incretin-based weight‑loss therapies. Investors reassessed the company’s obesity trajectory as shares fell sharply.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data---
Disclaimer: This content is for reference only and does not constitute investment advice.
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