Overview
- The U.S. Supreme Court could rule as soon as Friday on President Trump's sweeping tariffs, potentially deciding both the legality of emergency levies and whether companies are repaid billions in duties.
- U.S. stocks were mixed on Thursday with the S&P 500 flat near record levels, the Dow higher and the Nasdaq lower, as defense names rallied on Trump's $1.5 trillion 2027 spending goal and an executive order curbing contractor buybacks.
- Oil prices rebounded, with Brent around $62 and WTI near $58, reflecting volatility tied to U.S. moves involving Venezuela and wider geopolitical risks.
- Indian benchmarks extended declines this week and turned lower again Friday, as foreign investors sold a net Rs 3,367 crore and tariff threats related to purchases of Russian oil pressured sentiment.
- Traders are focused on the U.S. December nonfarm payrolls report, with forecasts near 55,000–70,000 jobs and a 4.5% unemployment rate that could shape expectations for the Federal Reserve’s next steps.