Trade court blocks Trump's tariffs while geopolitical tensions boost oil prices and corporate profits; tech startups surge in valuations amid AI investment boom

A federal trade court ruled President Trump's 10% global tariff is illegal, dealing a significant blow to his trade agenda after previous Supreme Court losses on tariff authority.

U.S. national debt has hit a concerning milestone, now outgrowing the size of America's economy, with experts warning Trump's policies could accelerate fiscal challenges without policy intervention.

Shell and other oil giants reported massive earnings surges following elevated oil prices amid U.S.-Iran military tensions, with Shell posting nearly $7 billion profit in Q1.

Elon Musk's SpaceX plans a $55 billion investment in a new semiconductor factory called Terafab to expand its artificial intelligence chip capabilities and market dominance.

Prediction market platform Kalshi raised $1 billion at a $22 billion valuation—double its December worth—signaling growing investor confidence in speculative trading platforms.

Fast-food chains McDonald's, Burger King, and Taco Bell reported strong sales despite 35% rise in gas prices, showing consumer resilience amid rising costs.

Startup valuations soared with Ramp eyeing $40+ billion valuation, Kodiak AI raised $100 million at a steep discount causing 37% stock drop, and Gusto hit $1 billion revenue milestone.

Oil futures rose and Treasury yields remain elevated following U.S.-Iran military conflict in the Persian Gulf, with approximately 1,500 ships trapped due to Iranian blockade in Strait of Hormuz.

Tech companies faced mixed investor reactions: Cloudflare's stock fell after announcing 20% workforce reduction despite AI-focused strategy, while CoreWeave shares dropped 9% amid rising AI infrastructure costs.

Stock markets held near records as investors bet on Middle East peace deal prospects, while bond investors expressed concerns about inflation and geopolitical risks amid ongoing regional tensions.