U.S. stock markets ended the day higher. At the close in New York the Dow Jones Industrial Average stood at 49 626 points, up 0.5 % on the previous session. Only minutes earlier the broader S&P 500 had risen 0.7 % to about 6 910 points, while the technology‑heavy Nasdaq 100 was up 0.9 % at roughly 25 013 points.
In other news, the Supreme Court’s decision last Friday invalidated the wide‑ranging tariffs that President Donald Trump announced in April 2025 on the “Day of Liberation”. The ruling reaffirmed that tariff power rests with Congress under the Constitution, and that Trump must obtain explicit congressional approval for such sweeping measures. The ruling, which stemmed from a special vote by Justice Brett Kavanaugh, has brought a degree of relief to investors. Although Trump has indicated he still can impose less extensive tariffs, the ruling underscored that the president’s power in this area is limited without congressional backing. The Republican majority in both houses of Congress remains unchanged, further limiting the president’s leverage.
The euro edged higher against the dollar, trading at 1.1786 USD per euro, or equivalently 0.8485 EUR per dollar.
Gold enjoyed a strong finish, trading at $5 095 per troy ounce – a 2.0 % gain from the previous close – which translates to about €139.00 per gram.
Oil prices ticked up slightly; Brent crude settled at $71.68 per barrel around 10:00 PM German time, two cents above the prior day’s close.
