Wall Street Fumbles Amid Tariff Tumult and Trade Talk Stagnation

Wall Street futures faced declines on Friday, following an appeals court decision to reinstate most of the U.S. President Donald Trump's tariffs, reversing a prior ruling and adding uncertainty to market stability as the month comes to a close.

The S&P 500 and Nasdaq are on track for their best month since November 2023, with the Dow expected to achieve nearly a 4% gain. Despite fluctuating trade policies leading to market volatility, the S&P 500 managed to rebound from its April low, currently trading 4% below its February peak.

Hopes of securing trade deals between the U.S. and key partners, supported by positive earnings and controlled inflation, have contributed to equity market gains. Nevertheless, U.S. Treasury Secretary Scott Bessent indicated that progress in U.S.-China trade talks is delayed, requiring direct involvement from the leadership of both nations to finalize agreements.

(With inputs from agencies.)