As Trump’s tariff regime goes on trial, Macquarie says all eyes on USD

U.S. stock futures are feeling the pressure as concerns over the AI market continue to loom, leading to a selloff that seems to be losing steam. Meanwhile, the fate of President Trump's global tariffs remains uncertain, adding to the market's unease. This situation is significant as it reflects broader economic anxieties that could impact investor confidence and market stability.

The Supreme Court is currently deliberating on the legality of tariffs imposed during Trump's administration, marking a significant examination of presidential power in economic policy. This case is crucial as it could set a precedent for how future administrations can implement tariffs and influence trade relations, impacting both domestic and international markets.

Ittihad International II has announced a new USD benchmark sukuk offering, marking a significant step in the financial market. This offering is expected to attract a wide range of investors, enhancing liquidity and providing a solid investment opportunity. The sukuk will play a crucial role in supporting various projects and initiatives, showcasing the growing interest in Islamic finance and its potential to contribute to economic development.

Macquarie has downgraded its rating for Globalwafers to neutral, even though it has raised the price target for the stock. This decision reflects a cautious outlook on the company's performance despite the optimistic price adjustment. Investors should take note of this shift as it indicates a more tempered view on the stock's potential, suggesting that while there may be some positive movement, the overall sentiment is more reserved.

Today, the Supreme Court is set to hear a significant case regarding former President Trump's imposition of global tariffs without Congressional approval. This case is crucial as it could redefine the limits of presidential power in trade matters and set a precedent for future administrations. The outcome may also impact financial markets, as indicated by the wavering Dow futures, reflecting investor uncertainty about the ruling's implications.

In a surprising turn of events, the Democrats achieved significant victories in major races, leading President Trump to suggest that the GOP's disappointing performance was due to his absence from the ballot. This reaction highlights the ongoing tensions within the Republican Party and raises questions about Trump's influence on future elections. As the political landscape shifts, these results could signal a challenging road ahead for GOP candidates.

Orsted, a leading offshore wind energy company, reported a net loss in the third quarter, largely attributed to challenges faced in the US market during the Trump administration. This downturn highlights the difficulties renewable energy companies can encounter due to political and regulatory changes, raising concerns about the future of clean energy investments in the US.

Mamdani's victory in New York marks a significant win for the Democratic Party, as they also triumphed in New Jersey and Virginia. This electoral sweep sends a clear message to President Trump and his party, reflecting voters' dissatisfaction.

Estonia's Foreign Minister has called on China to align with the United States and European nations in applying pressure on Russian President Vladimir Putin. This appeal highlights the growing international consensus on the need to address Russia's actions, particularly in light of ongoing geopolitical tensions. By urging China to take a stand, Estonia is emphasizing the importance of global cooperation in promoting stability and peace.

Oil prices remain steady despite the release of weak economic data and fluctuations in equity markets. This stability is significant as it reflects the ongoing balance between supply and demand in the oil sector, even when broader economic indicators suggest uncertainty. Investors are closely monitoring these trends, as they could impact future pricing and market strategies.

TSX futures are showing an upward trend after the index recently hit a near six-week low. This rebound is significant as it reflects investor confidence returning to the market, suggesting that the previous slump may have been a temporary setback. Understanding these fluctuations is crucial for investors looking to navigate the stock market effectively.

Power Integrations has reported earnings that met expectations, but the company's weak guidance has led to a significant drop in its stock shares. This situation highlights the challenges the company faces in the current market environment, raising concerns among investors about future performance and growth prospects.

Electrovaya has announced the pricing of its public offering of common shares at $5.20 each, which is a significant step for the company as it seeks to raise capital for its growth initiatives. This move is expected to enhance its financial position and support its ongoing projects in the battery technology sector, making it an important development for investors and stakeholders.

The New York Times Company has announced a significant increase in its third-quarter profit and revenue, driven by a surge in subscription growth. This is great news for the company as it reflects the effectiveness of their strategy to attract more readers and enhance their digital offerings. As more people turn to reliable news sources, the Times' success highlights the importance of quality journalism in today's media landscape.