Hot News
Another reversal? The U.S. Appeals Court approved the Trump administration's request to temporarily restore its tariff policy.
On Thursday Eastern Time, the U.S. Federal Appeals Court approved the Trump administration's request to temporarily suspend the previous lower court's ruling that prohibited enforcement of several tariff executive orders by the U.S. government. "The rulings and permanent injunctions issued by the International Trade Court in these cases will be temporarily suspended until further notice, while this court considers whether the rulings should be suspended for a longer period."
The U.S. Federal Appeals Court did not provide any comments or reasons, but required the plaintiffs in the case to make their arguments by June 5, and required the Trump administration to respond by June 9. Senior officials from the Trump administration stated that they were not discouraged by the trade court's ruling and expected to either win the appeal or use other presidential powers to ensure that the relevant tariff measures are implemented.
Federal Reserve's Goolsbee: If trade returns to the pre-tariff state, there is room for interest rate reduction.
Chicago Federal Reserve Chairman Austan Goolsbee recently stated that if a solution to the trade policy could bring the U.S. economy back to the trajectory before the tariffs were imposed, it would create conditions for officials to lower interest rates. Speaking at the Mackinac Policy Conference on Thursday, Goolsbee said, "If we ultimately do not impose additional tariffs, or reach some agreements that allow us to avoid tariffs, then we could return to the state before April 2." Goolsbee added, "If stable full employment is achieved and inflation falls to target levels, then interest rates could be lowered to where they should ultimately be."
For the first time since 2019, Trump met with Powell, who insisted on policy independence.
Federal Reserve Chairman 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.
Post-Market Trading
The three major stock indexes closed higher, with NVIDIA leading the gains among technology stocks.
On Thursday, Eastern Time, the three major U.S. stock indexes all closed higher, the Dow Jones Industrial Average rose 0.28%, the Nasdaq rose 0.39%, and the S&P 500 Index rose 0.40%.
Most large technology stocks increased, with NVIDIA rising 3.25%, Microsoft rising 0.29%, Meta Platforms rising 0.23%, Amazon rising 0.48%, Tesla rising 0.43%, Apple falling 0.23%, and Google A falling 0.29%.
Most popular Chinese stocks closed higher, with the Nasdaq China Golden Dragon Index rising 1.44%. JD.com increased by over 4%, Xiaopeng Autos by nearly 4%, Li Auto by over 2%, and both Baidu and iQIYI rose by more than 1%.
Q1 performance exceeded expectations, with NVIDIA closing up 3%, briefly challenging the title of 'global stock king'.
$NVIDIA (NVDA.US)$Overall revenue in the first fiscal quarter increased by 69% year-on-year, reaching 44.1 billion dollars, higher than the market expectation of 43.1 billion dollars; net income was 18.775 billion dollars, below the market expectation of 20.767 billion dollars; adjusted EPS was 0.96 dollars, with a market expectation of 0.93 dollars. Driven by NVIDIA's positive earnings reports and news that 'Trump administration's tariff measures were blocked by the court', NVIDIA briefly challenged for the title of the world's stock king yesterday, becoming the publicly traded company with the highest market cap.
In a 10-Q filing submitted to the U.S. Securities and Exchange Commission on May 28, it was disclosed that NVIDIA CEO Jensen Huang will sell up to 6 million shares of NVIDIA stock. NVIDIA's Chief Financial Officer Colette Kress plans to sell up to 0.5 million shares.
Costco's net income for the third quarter increased by 13% year-on-year, as the company offset the impact of tariffs through advance purchasing and production shifts.
$Costco (COST.US)$ In the third fiscal quarter, net sales were $61.96 billion, an 8% year-on-year increase; net income was $1.9 billion, a 13% year-on-year increase. Costco CEO Vachris stated on Thursday that the company is taking measures to reduce the impact of tariffs by pre-purchasing and shifting procurement of private label products to sales areas. These initiatives have helped lower costs while also avoiding significant price increases for consumers.
Dell's stock surged more than 9% after hours! AI Server Orders far exceeded expectations, and the revenue outlook is promising.
$Dell Technologies (DELL.US)$ In the first quarter of fiscal year 2026, total net revenue was $23.38 billion, while analysts expected $23.15 billion. The net revenue from the Infrastructure Solutions Group in the first quarter was $10.32 billion; the adjusted operating profit for the first quarter was $1.67 billion, while analysts expected $1.82 billion; the backlog for AI servers (Orders) grew to $14.4 billion in the first quarter, while analysts expected $7.88 billion. The company expects second-quarter revenue to be between $28.5 billion and $-29.5 billion, while analysts expect $25.35 billion. Dell Technologies rose over 9% in post-market trading, and as of the time of writing, it is currently up more than 2%.
Germany plans to impose a digital tax on U.S. technology giants Google and Facebook.
According to media reports, Germany's new Minister of Culture, Volker Wissing, revealed that the German government is considering imposing a 10% tax on large online platforms. $Alphabet-C (GOOG.US)$ and $Meta Platforms (META.US)$ The EU and the US are engaged in trade negotiations, and this move could escalate tensions between Europe and the Trump administration. Wissing stated in a media interview that his department is drafting legislative proposals and will also engage in dialogue with platform operators to explore alternative solutions, including "voluntary donations." He accused these technology giants of "cunning tax evasion practices."
Meta is collaborating with Anduril to develop artificial intelligence military products.
$Meta Platforms (META.US)$ is collaborating with the American defense contractor Anduril Industries to develop new products for the US military, including an AI helmet with virtual and augmented reality capabilities. A blog post released by Anduril on Thursday stated that the company is working with Meta to "design, build, and deploy a range of integrated XR products that provide enhanced situational awareness for combat personnel and allow for intuitive control of autonomous platforms on the battlefield." Anduril's co-founder, Palmer Luckey, who is also a co-founder of Oculus VR, sold this gaming headset company to Meta in 2014.
Boeing rose over 3%, planning to increase the production of the 737MAX to 42 units per month.
Boeing's stock price rose 3.3% after the company's CEO, Kelly Ortberg, stated plans to increase the production of its best-selling 737 MAX aircraft to 42 units per month in the coming months and to raise it to 47 units per month by early 2026.
JD.com rose over 4%, and the stablecoin has entered the second phase of sandbox testing.
$JD.com (JD.US)$ It rose 4.31%. Earlier, Liu Peng, CEO of JD.com's blockchain technology, stated that JD.com's stablecoin has not been officially issued yet, and it has entered the second phase of sandbox testing, aimed at providing mobile and PC application products for retail and institutions. The testing scenarios mainly include cross-border payments, investment transactions, retail payments, etc. When talking about the reason for entering the stablecoin business, he frankly stated that it was based on the consideration of JD Group's overseas business development.
Top 20 trading volumes.
Hong Kong Market Outlook
Northbound capital bought nearly 4.4 billion Hong Kong dollars worth of Hong Kong stocks, aggressively purchasing over 1 billion Hong Kong dollars in MEITUAN-W, while selling over 0.5 billion Hong Kong dollars in Semiconductor Manufacturing International Corporation.
On May 29 (Thursday), southbound funds net bought 4.382 billion Hong Kong dollars of Hong Kong stocks.
$MEITUAN-W (03690.HK)$、$ZA ONLINE (06060.HK)$、 $CSPC PHARMA (01093.HK)$Net purchases were 1.044 billion Hong Kong dollars, 0.756 billion Hong Kong dollars, and 0.366 billion Hong Kong dollars respectively.
$SMIC (00981.HK)$、 $XIAOMI-W (01810.HK)$ 、 $XPENG-W (09868.HK)$The net sell-off amounts to 0.557 billion Hong Kong dollars, 0.53 billion Hong Kong dollars, and 0.483 billion Hong Kong dollars respectively.
In Q1, Li Auto's adjusted Net income was 1 billion yuan, a year-on-year decline of 20.5%.
$LI AUTO-W (02015.HK)$ In Q1 2025, total revenue was 25.9 billion yuan, an increase of 1.1% year-on-year, estimated at 25.12 billion yuan; adjusted net income was 1 billion yuan, a decline of 20.5% year-on-year, estimated at 1.19 billion yuan; the company's EPS was 0.96 yuan, compared to 1.21 yuan in the same period last year. The company expects total revenue in Q2 to be between 32.5 billion yuan and 33.8 billion yuan, with the market estimate at 34.58 billion yuan; Q2 delivery volume is estimated to be between 0.123 million and 0.128 million vehicles, with market expectations at 128,852 vehicles.
Today's focus.
Keywords: U.S. Core PCE
On Friday, in the economic data, U.S. inflation data will be released, and investors should pay special attention to the month-on-month and year-on-year rates of the U.S. Core PCE Price Index for April, the year-on-year rate of the April Core PCE Price Index, and the final value of the one-year inflation expectation for May. Additionally, the U.S. personal spending month-on-month for April, the Chicago PMI for May, and the University of Michigan Consumer Confidence Index for May are also worth noting.
In terms of financial events, in the early morning of 2027, FOMC voting member and San Francisco Fed President Daly participated in a fireside chat with the Oakland Rotary Club on economic matters. In the evening, 2026 FOMC voting member and Dallas Fed President Logan will deliver an opening speech at an event and participate in a dialogue.
Regarding Earnings Reports, focus on Friday for the laser radar company. $ROBOSENSE (02498.HK)$ 。
Regarding new stocks, Hong Kong stocks.$SHOUHUI GROUP (02621.HK)$。
Futubull Morning Reading:
Investing without conducting research is like playing poker without looking at the cards; it is no different from gambling and will inevitably lead to failure.
——Peter Lynch
Editor/joryn
