The initial court ruling only gave the Trump administration 10 days to cancel the tariffs, but the new order outlines a briefing timeline that extends to June 9 to decide whether to extend the tariff application. If approved, or if an appeal to the Supreme Court is subsequently approved, the tariffs could last for months. However, the current legal tug-of-war has already undermined trade negotiations—"After all, who would sit down at the negotiating table for a threat deemed illegal by the courts?"

How to understand the tariff ban being blocked by the appellate court?

Daily Hong Kong Stock Market News Brief: Li Auto's Q1 2025 revenue reached 25.9 billion yuan, a year-on-year increase of 1.1%, with a net profit of 1 billion yuan, down 20.5% year-on-year; CSPC PHARMA is in discussions with potential partners for drug development cooperation; SANY INT'L's net profit grew by 30.6% to 636 million yuan in Q1; MIN XIN HOLD formed a partnership to invest in technology companies; CHINA ORIENTAL's operating profit for Q1 was approximately 199 million yuan; FOSUN PHARMA's new drug listing application was approved; Yum China repurchased $510 million in shares; GENOR-B's new drug listing application was approved

Daily Hong Kong Stock Market News Briefing (May 30, Friday)

The court ruling may allow mobile game developers to escape the commission rules of the Apple App Store, expected to bring an additional $19.5 billion in revenue for developers. Analysts point out that with the reduction in commissions, developers will receive more income, which may be used to attract new players. This ruling stems from the long-standing dispute between Epic Games and Apple, allowing developers to sell goods outside the Apple Store

The court ruling breaks Apple's "commission wall," and mobile game developers will reclaim $19.5 billion in revenue in the future

Dell Tech's $12.1 billion AI server order not only exceeds the company's entire AI server shipment volume for the fiscal year 2025 but also brings its AI order backlog to a historic high of $14.4 billion

Dell's AI server orders surge to $12.1 billion, but traditional business under pressure | Earnings Report Insights

Germany plans to impose a 10% digital services tax on tech giants like Google and Meta, aiming to address the phenomenon of these companies earning huge profits locally while paying almost no taxes. Germany's new Minister of Culture, Wolfram Weimer, stated that a legislative proposal is being drafted and accused these platforms of tax avoidance. This move could escalate trade disputes with the United States, especially under the pressure of the Trump administration. Germany will join other countries in implementing a digital services tax

Europe strikes back at American tech giants, Germany considers imposing a 10% digital tax

Microsoft announced at the all-hands meeting that it has signed a transaction for 100,000 Copilot licenses with Barclays, with an annualized value potentially reaching tens of millions of dollars. Microsoft CEO emphasized the focus on customer usage rates, making the enterprise AI market a core strategy. Although AI products are expected to generate annual revenue exceeding $13 billion, Wall Street is still waiting for clearer financial data. Feedback from enterprises indicates that the implementation of Copilot requires organizational adjustments and employee training, with promotion adopting a phased pilot model

Enterprise-level AI strategy accelerates! It is reported that Microsoft has signed a large order of 100,000 Copilot with Barclays

U.S. stocks rebounded under pressure due to unclear tariff prospects, with the S&P and other major indices closing higher. NVIDIA rose over 3%, while Best Buy fell over 7%. The Trump administration plans to appeal to the Supreme Court to restore the tariff policy. U.S. Treasury yields declined, the dollar index fell, and gold prices rose. A-shares and Hong Kong stocks collectively increased, with strong performance in digital currencies. Jensen Huang plans to sell 6 million shares of NVIDIA, and Dell's Q1 AI server orders exceeded expectations. European and American stock markets closed, with the Dow Jones rising 0.28%

Breakfast | Trade policy chaos limits the rise of U.S. stocks, Trump's tariffs temporarily "revived"

Trump's tariffs "halted" ignited global market optimism, with risk assets rising and safe-haven gold declining. S&P 500 futures and Nasdaq 100 futures surged by as much as 1.7% and 2.1%, respectively. Asian stock markets generally rose, with the Japanese stock market leading the way with a notable increase of 1.2%. The U.S. dollar index quickly climbed, gold plummeted, and the yield on 10-year U.S. Treasuries rose by 2 basis points

Trump's tariffs "halted," Asian stock markets surged collectively, U.S. stock futures rose, the dollar increased, and gold plummeted

Today's important economic data and events include: 07:30 Japan April unemployment rate and May Tokyo CPI; 07:50 Japan April retail sales and industrial output preliminary value; 08:25 Speech by Dallas Federal Reserve President Logan; 15:30 and 16:30 European Central Bank officials' speeches; 18:30 India's Q1 GDP; 19:30 Huawei press conference; 20:00 Germany May CPI preliminary value; 20:30 US April personal income and consumption expenditure; 22:00 US Consumer Confidence Index; next day 04:45 and 07:30 US Federal Reserve officials' speeches

Reminder: Please pay close attention to the following (all times are in Beijing time)

San Francisco Federal Reserve President Mary Daly stated that the Federal Reserve's monetary policy is "in a good position" to help inflation gradually decline. Although inflation is expected to struggle to reach the 2% target this year, the policy is making steady progress. The labor market is cooling but remains robust, and Daly emphasized that the policy aligns with economic conditions, awaiting more data to guide future decisions. Meanwhile, Trump's tariff policy has increased uncertainty for businesses, and rising debt levels have become a focal point for the market

San Francisco Federal Reserve President: Monetary policy is "in a good position" and inflation is expected to continue to decline

U.S. Treasury Secretary Janet Yellen: It seems that AI spending is driving U.S. GDP growth by up to 1%

U.S. Treasury Secretary Janet Yellen: Tariffs and budgets are not isolated from each other. I believe the deficit will be lower than the previous year in 2025. By 2028, the U.S. debt-to-GDP ratio will stabilize. I sympathize with deficit hawks

On Thursday, among the top 20 stocks by trading volume in the US market, NVIDIA rose 3.25%, with a trading volume of USD 51.712 billion. The CEO predicts that the AI market will experience exponential growth. Tesla rose 0.43%, and CEO Elon Musk announced he would leave the Trump administration. Apple fell 0.23%, with global smartphone shipment growth forecasts significantly revised down to 0.6%. Salesforce fell 3.30%, despite exceeding performance expectations, analysts remain cautious about its outlook

On May 29th, the top 20 trading volumes in the US stock market: CoreWeave plummeted 9%, Barclays stated that its short-term upside potential is limited

Mary Daly, President of the Federal Reserve Bank of San Francisco (2027 FOMC voting member): I truly believe in the Federal Reserve's dual mandate of (employment + price stability) and achieving the 2% inflation target

Federal Reserve's Daly: The market will be volatile, but the U.S. economic situation is good

Dell Tech expects second-quarter revenue of USD 28.5 billion to USD 29.5 billion, while analysts expect USD 25.35 billion. Dell Tech's US stock rose over 9% in after-hours trading. Risk warning and disclaimer: The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at one's own risk

Dell Tech expects second-quarter revenue of $28.5 billion to $29.5 billion, while analysts expect $25.35 billion. Dell Tech's U.S. stock rose over 9% in after-hours trading

White House trade advisor Navarro stated that if the Trump administration ultimately loses in the court battles surrounding its trade policies, the government will seek to impose tariffs through other means. Navarro told reporters at the White House that after the court issued a stay, U.S. tariffs would remain unchanged temporarily, and the U.S. government is still engaging in dialogue with other countries and continuing trade negotiations

Navarro: Even if the White House loses in court, it will find a way to impose tariffs

The Nasdaq Golden Dragon China Index preliminarily rose by 1.4%, outperforming the three major U.S. stock indices. Among popular Chinese concept stocks, JD.com rose by 4.2%, XPeng rose by 4%, New Oriental rose by 3.5%, Li Auto rose by 2.3%, and Baidu rose by 1.5%. Nio, Alibaba, Pinduoduo, NetEase, and Tencent had gains of no more than 0.6%. Xiaomi, Bilibili, and WeRide fell by no more than 3.4%, while Pony.ai dropped by 7.4%

Meta Platforms, Inc. has reached one billion monthly active users for its AI assistant, as announced by CEO Mark Zuckerberg. The company aims to enhance personalization and entertainment features while exploring subscription services. Meta's AI division is split into two teams focusing on AI products and AGI Foundations. The generative AI products are projected to generate significant revenue by 2035. Analysts have a bullish outlook on Meta's stock, with an average price target of $686.27, reflecting a potential upside. META stock is currently trading at $643.79.

Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions

A federal appeals court has permitted President Trump to continue collecting tariffs under the emergency powers law, at least for the time being. Additionally, MarketBeat highlights five lesser-known stocks recommended by top analysts for investment, suggesting they may be the best opportunities before the broader market takes notice.

Federal appeals court allows President Trump to continue collecting tariffs under emergency powers law, for now

A recent Benzinga survey revealed that only 16% of respondents would choose Tesla as their preferred investment among Elon Musk's companies, with 84% favoring alternatives like SpaceX and Starlink. SpaceX and Starlink each garnered 27% of the votes, while X and xAI received 19%. Musk has hinted at a potential IPO for Starlink, which could attract more investor interest. Currently, investors have limited access to Musk's private ventures, with funds like Ark Venture Fund and ERShares Private-Public Crossover ETF providing some exposure to SpaceX.

Tesla The Best Elon Musk Company? 84% Say No — These 3 Rank Higher

Federal Reserve Chairman Jerome Powell met with President Trump at the White House on Thursday, May 29, at the invitation of the President. This was their first meeting since November 2019. Powell emphasized that the Federal Reserve formulates monetary policy aimed at supporting maximum employment and price stability, and all decisions will be based on careful, objective, and non-political analysis. Trump stated that the Federal Reserve's failure to cut interest rates was a mistake

Trump meets Powell for the first time since 2019, Trump requests interest rate cuts, Powell insists on policy independence

The U.S. appeals court temporarily halted the court ruling against President Trump's tariffs

International Data Corporation (IDC) forecasts a 0.6% growth in global smartphone shipments to 1.24 billion in 2025, down from a previous estimate of 2.3%. Apple Inc. is expected to see a 1.9% decline in shipments due to competition and economic challenges. The U.S. market is projected to grow 1.9%, influenced by tariff uncertainties. Heavy discounts and the iPhone 17 launch may mitigate further declines. AAPL stock is currently down 0.55% at $199.12.

Apple iPhone Shipment Could Decline In 2025 As Tariff, Competition Play Spoil Sport: IDC

Federal Reserve Governor Christopher Waller: Concerned about the potential low attractiveness of U.S. assets

White House Press Secretary Leavitt: Earlier on May 29, President Trump and Federal Reserve Chairman Powell did meet at the White House

White House Press Secretary Leavitt: President Trump's tariff policy faces judicial overreach on the night of May 28

Federal Reserve's Goolsbee: The U.S. government may impose tariffs on imported goods for other reasons

JPMorgan analyst Samik Chatterjee highlighted Nvidia's strong first-quarter revenue, exceeding consensus expectations, with total revenues growing 12% Q/Q and 69% Y/Y. The data center revenue reached $39.1 billion, driven by a significant ramp in Blackwell deployments. Nvidia forecasts continued growth despite headwinds from H20 export restrictions. This positive trend is expected to benefit server OEMs like Dell, Hewlett Packard, and Super Micro, as they prepare for increased AI server revenues in the upcoming quarter. DELL stock was down 0.57%, while HPE and SMCI showed slight changes.

Dell, Hewlett Packard, Super Micro Set To Benefit From Nvidia's AI Chip Ramp

ASML Holding NV shares rose 1.05% to $754.35, influenced by Nvidia's strong first-quarter results, which saw a 69% year-over-year revenue increase to $44.1 billion. Nvidia's success in AI infrastructure is boosting expectations for semiconductor suppliers like ASML. Analysts are optimistic about ASML's future, anticipating benefits from the AI boom. ASML's stock is currently trading at $756.69, with a 52-week high of $1,110.09 and a low of $578.51.

ASML Stock Climbs Amid Nvidia's Blowout Quarter: What's Going On?

SharpLink Gaming Inc's stock surged 569% this week, with a 51.8% increase to $44.28 on Thursday, following the announcement of a $425 million private placement to adopt Ethereum as its primary treasury reserve asset. The company will issue approximately 69 million shares at $6.15 each to prominent crypto investors, including Consensys and Pantera Capital. CEO Rob Phythian described the move as a significant milestone, while Consensys CEO Joseph Lubin emphasized its potential for Ethereum adoption in public markets. The deal is expected to close by May 29 and will fund ETH purchases and corporate needs.

SharpLink Gaming Stock Soars Over 500% This Week On Ethereum Treasury Move

Investors are reacting to the U.S. Court of International Trade's tariff invalidation, leading to a surge in the TACO trade. President Trump may appeal the ruling, potentially imposing new tariffs under various sections of the Trade Act. Nvidia's earnings report aligns with whisper numbers, causing a notable stock increase, driven by FOMO among investors. Initial jobless claims suggest a weakening job market, while GDP data remains stable. Additionally, AI advancements are predicted to cause mass layoffs, with significant impacts on entry-level white-collar jobs and potential unemployment rates rising to 20%.

Investors Double Down On Taco Trade After Tariff Invalidation; A Tell From Nvidia; Mass Layoffs

On Thursday (May 29), in the European market's late trading, the yield on Germany's 10-year government bonds fell by 4.6 basis points to 2.508%, while the yield on the 2-year German bonds dropped by 3.0 basis points to 1.767%. The yield on the 30-year German bonds decreased by 4.4 basis points to 2.987%. Following the U.S. trade court's rejection of Trump's tariff policy, the market reacted sharply, with the 2/10-year German bond yield spread dropping by 1.822 basis points to +73.613 basis points. Investors are focused on the upcoming U.S. GDP data

The medium- to long-term German bond yields fell by more than 4 basis points, as investors focus on U.S. GDP data and Trump's tariff lawsuit

Apple Inc. is experiencing its worst month against the S&P 500 since 2018, with a 11.7% underperformance. Shares are down 5.5% while the S&P 500 is up 6.2%, driven by concerns over iPhone demand and rising costs. Historically, such dips have been buying opportunities, with Apple outperforming the S&P 500 by an average of 6.1% over the next three months after similar declines. The stock has shown strong returns following three consecutive monthly losses, suggesting that buying the dip may benefit long-term investors.

Apple Eyes Worst Month Vs. S&P 500 Since 2018 — But History Says Buy The Dip Now

Bob Michele, Global Head of Fixed Income at JPMorgan Asset Management, stated that the market may withstand the rise of the U.S. 10-year Treasury yield to 4.95%, but if it breaks through 5% and rises to 5.40%, bond investors will find it difficult to bear. He mentioned that if the 30-year Treasury yield increases by another 25 basis points, it will be very painful, and emphasized the need to pay attention to the policy responses from the Treasury and the Federal Reserve at that time

Morgan Asset Management Global Fixed Income Head: Investors cannot bear the 10-year U.S. Treasury yield rising from 5% to 5.4%, and the responses from the Treasury and the Federal Reserve will be worth noting

Nvidia's stock is experiencing significant upside following a strong first-quarter report, despite challenges from China export restrictions. Analysts from Rosenblatt, Needham, Benchmark, Wedbush, and JPMorgan maintained Buy or Outperform ratings, with price targets ranging from $160 to $200. They highlighted the robust demand for Nvidia's Blackwell product and the company's potential to navigate the China market challenges. Overall, Nvidia's performance indicates strong growth in AI infrastructure, with expectations of continued demand and market expansion.

Nvidia Stock Has 'Significant Upside' As AI 'Godfather' Jensen Huang Delivers Another 'Robust Quarter'

The Trump administration has requested the appeals court to suspend the tariff ruling of the U.S. Trade Court and may ask the Supreme Court to maintain the tariffs unchanged on Friday. In the U.S. stock market, the S&P 500 index narrowed its gains to 0.2%, the Dow Jones Industrial Average fell over 0.1%, and the Nasdaq rose 0.55%. The yield on the U.S. 10-year Treasury bond fell by more than 4.9 basis points, while spot gold rose by about 0.9%, remaining around $3,322.09

The Trump administration appealed the tariff ruling from the trade court, U.S. stocks gave up gains, U.S. Treasury yields rose, and gold prices maintained their upward trend

Subadra Rajappa, Head of U.S. Interest Rate Strategy at Société Générale, stated that the bond market is truly focused on the trajectory of how all uncertainties impact economic growth. The Federal Reserve may keep its policy unchanged for as long as possible. Therefore, two rate cuts this year are reasonable, and this has been priced in by the market

Nvidia's stock surged 6.4% after reporting a record $44.1 billion in revenue, nearing its all-time high. The company experienced a 73% year-over-year growth in data center revenue, exceeding expectations. Despite potential revenue losses from China, Nvidia guided for $45 billion in fiscal second-quarter sales. The gaming segment also contributed significantly, with $3.8 billion in sales. With cash reserves at $53.7 billion, Nvidia's strong business prospects in AI infrastructure and other sectors make it an attractive investment opportunity.

Nvidia Stock Nears Its All-Time High. Is It a Buy Now?

NVIDIA warned that new U.S. chip export regulations could lead to a loss of up to $8 billion in sales, with the market reacting mildly. Despite strong performance in the first quarter, the stock price rose more than 6% at one point during Thursday's early trading. The expected revenue for this quarter is $45 billion, slightly below analysts' expectations of $45.9 billion, mainly due to tightened controls on the export of H20 artificial intelligence chips

NVIDIA warns that export controls will result in a loss of $8 billion in sales

Nvidia's stock surged 3.9% following its Q1 2026 earnings report, which exceeded Wall Street expectations with EPS of $0.96 and $44.06 billion in sales, a 69% year-over-year increase. The data center segment drove growth, accounting for 88% of revenue. However, Nvidia faced $4.5 billion in charges due to U.S. export restrictions to China, impacting gross margins. Despite these challenges, demand for Nvidia's AI chips remains strong, supporting its valuation.

Why Nvidia Stock Is Soaring Today

Broadcom Inc's stock is rising following Nvidia Corp's strong quarterly results, with Nvidia reporting a 69% year-over-year revenue increase to $44.1 billion. Broadcom, which has seen a decrease in revenue from China, is expected to benefit from AI chip demand, with projections of significant revenue growth by 2027. Analysts forecast Broadcom's second-quarter revenue at $14.97 billion and EPS at $1.56. Broadcom's stock has surged over 72% in the past year, reflecting strong market confidence in AI technology.

When Nvidia Wins, Broadcom Climbs: AI Boom Sends Chip Stocks Soaring

Chicago Federal Reserve President Goolsbee (2025 FOMC voting member): If there are no tariffs (provoked by President Trump), FOMC rates may decrease

Hong Hao pointed out in a public roadshow that the global financial market is entering a mode transition period, and a weaker US dollar is a high-probability event. Investors should consider reallocating US stock returns to markets such as European bonds, euros, gold, and Hong Kong stocks. It is expected that Hong Kong stocks will have a peak in the second half of the year, despite a slowdown in the fundamentals, but the return of liquidity will support market performance

Hong Hao: There are still highs in the Hong Kong stock market in the second half of the year, the gold market is far from over, and a continued weakening of the US dollar is highly likely

Mexican President López Obrador announced plans to increase domestic pharmaceutical production, with a plan to invite bids for companies to manufacture drugs in Mexico starting in 2026. Meanwhile, the Mexican peso's appreciation against the US dollar narrowed to 1.2%, and it fell back to 19.36 pesos after the release of US GDP data. The gains of US pharmaceutical stocks such as Pfizer and Moderna also decreased

The Mexican president talks about local pharmaceutical production, U.S. pharmaceutical stocks maintain their upward trend, and the Mexican peso gives back its gains

Market value has evaporated by over 10 billion

Tracking the "Quantity Roshambo" of GIANT BIOGENE Collagen

Tesla Inc shares rose 1.14% to $360.98 after CEO Elon Musk announced his departure from a government role, allowing him to refocus on the automaker. Musk's exit from the Department of Government Efficiency (DOGE) is seen positively by investors, as it aligns with Tesla's upcoming robotaxi launch and advancements in self-driving technology. Despite concerns over a 9% sales drop in Q1, Musk noted a rebound in demand and emphasized the importance of autonomy and Optimus bots for Tesla's future success.

What's Going On With Tesla Stock Thursday?

The U.S. International Trade Court ruled that Trump's global tariff order exceeded presidential authority, suspending most tariffs, particularly those against China, Canada, and Mexico. The court found that these tariffs failed to effectively address the issue of drug trafficking. The Trump administration has filed an appeal and may seek an emergency stay to continue imposing tariffs. This ruling could affect refunds for tariffs that have already been collected

The Midfield Battle of Trump's Tariffs

In April, the U.S. existing home sales index decreased by 3.5% year-on-year, with an expectation of 2.7% and a previous value of -0.1%

U.S. stocks rose, with the Nasdaq gaining over 1%. Nvidia reported strong first-quarter revenue of $44.1 billion, exceeding estimates, and projected $45 billion for Q2. Alzamend Neuro surged 140% after a clinical trial announcement, while Brooge Energy fell 58% due to voluntary delisting. Oil prices dropped 1.1%, while gold and silver saw gains. Initial jobless claims increased to 240,000, and the U.S. economy contracted by 0.2% in Q1.