Global equities just navigated a jarring mix of legal drama, softer growth, and lingering AI jitters – and still managed to finish the week higher. In the US, the Supreme Court’s decision to strike down President Trump’s sweeping “Liberation Day” tariffs flipped markets from red to green, helping the S&P 500 gain about 1.1% and the Nasdaq 1.5% for the week. Under the surface, investors are digesting a slower US economy, sticky inflation, and the next wave of AI-related earnings, with Nvidia and Walmart now in focus. For now, the message from markets is: policy risk is back, growth is cooling – but the bull market isn’t broken.

What’s Happening 📊

Tariffs overturned, markets cheer (for now).The US Supreme Court ruled that Trump overstepped his authority in imposing broad “Liberation Day” tariffs using emergency powers, invalidating a swathe of import duties.

The ruling sparked an intraday reversal: on Friday, the...