Nasdaq 100 futures dropped 0.3% in pre-market trading as a federal appeals court temporarily reinstated Trump’s global tariffs, casting fresh uncertainty over markets despite this week’s steady gains from improving US-EU trade talks and strong Nvidia earnings.
Tariff Ruling Pressures Tech
The US Court of Appeals granted Trump a temporary stay on Wednesday’s trade court decision that had blocked major portions of his tariff agenda as illegal. With briefings due June 9 and the case likely heading to the Supreme Court, the ruling keeps tariffs in place while legal challenges continue. Tech stocks face heightened sensitivity given their global supply chains and international exposure.
PCE Data Awaited
Friday’s focus turns to April’s Personal Consumption Expenditures Price Index, the Fed’s preferred inflation gauge. While tariff impacts aren’t expected in April data, any underlying price pressures could amplify concerns about trade levies’ inflationary effects as the White House explores alternative tariff authorities.
TACO Trade Under Test
This week’s rally exemplified the “TACO trade” (Trump Always Chickens Out) where markets bet on policy reversals. However, Trump’s defiant response calling the original ruling “horrible” and “Country threatening” suggests the administration may fight harder this time, challenging the market’s assumption of presidential retreat under pressure.
The legal battle over tariffs, combined with key inflation data and Elon Musk’s announced government departure, creates a volatile backdrop for the Nasdaq 100 as investors weigh policy uncertainty against recent tech sector momentum.
US100 (D1)
The Nasdaq 100, represented by the US100, is trying to break above recent highs and remain above the 78.6% Fibonacci retracement level — a key zone that may act as resistance. Bulls will look to retest previous highs, while bears may aim for a pullback toward the 200- and 100-day SMAs, with the 61.8% retracement level as the next potential downside target. The RSI is starting to diverge higher, while MACD tightens after bearish crossover. Source: xStation
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
