Trump Tariff Court Setback Lifts Investor Confidence: Live Updates
May 29, 2025
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Amanda M. Castro is a Newsweek Live Blog Editor based in New York. Her focus is reporting on U.S. politics, breaking news, consumer topics, and entertainment. She specializes in delivering in-depth news and live blog reporting and has experience covering U.S. presidential debates, awards shows, and more. Amanda joined Newsweek in 2024 from the The U.S. Sun and is a graduate of the University of New Haven.
You can get in touch with Amanda by emailing a.castro@newsweek.com.
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Markets worldwide climbed Thursday following a U.S. court decision blocking President Trump’s most aggressive tariffs. The ruling temporarily relieved investors worried about rising consumer costs and disruptions to global supply chains.
What to Know:
A federal panel halted key Trump tariffs, a move that could face appeal.
S&P 500 futures jumped over 1% ahead of the opening bell in New York.
Nvidia shares surged more than 6% on strong earnings and AI optimism.
Markets in Asia and Europe also rose, with Hong Kong, Japan and South Korea posting gains of over 1%.
The dollar strengthened while U.S. Treasury bond yields climbed.
Analysts warned that legal uncertainty may still shake investor confidence.
Stay with Newsweek for the latest.
What DOGE will look like without Elon Musk
Elon Musk leaves a meeting with House Republicans in the basement of the U.S. Capitol building on March 5, 2025 in Washington, DC. Elon Musk leaves a meeting with House Republicans in the basement of the U.S. Capitol building on March 5, 2025 in Washington, DC. Getty Images
Elon Musk has confirmed that he will depart from his role at the White House and as head of the Department of Government Efficiency, leaving behind several questions about the future of DOGE.
The tech CEO announced he would be stepping down after his “scheduled time” as a government employee came to an end on Wednesday, ending five months of work as one of the most important figures in the second Trump administration.
Elon Musk has been a defining presence in President Donald Trump’s second term, taking on a very public role as head of DOGE and a prominent champion of the White House’s other policies on social media.
However, Musk’s notoriety has been a double-edged sword, as he has become closely associated with DOGE’s widespread cuts to federal spending, which has led to protests against the CEO and his companies.
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