A U.S. federal trade court ruled on Wednesday that President Donald Trump overstepped his legal authority by imposing sweeping global tariffs. The court declared the measures unlawful and sent equity markets higher while safe-haven assets slipped.

The U.S. Dollar Index gained 0.52% to 100.40 in Wednesday’s trading session following the court decision against Trump's tariffs. Spot gold prices dropped 0.78% to $3,263.13 due to reduced demand for safe-haven assets.

S&P 500 futures rose 1.6%, Nasdaq 100 futures gained 2%, and Dow futures spiked 1.2% at 9:00 p.m. ET.

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Deepti Sri·27m ago

According to the U.S. Court of International Trade, the 1977 International Emergency Economic Powers Act (IEEPA) does not allow presidential trade regulation through tariffs without congressional approval when applied to impose a 10% duty on most imports.

The judges ordered the tariffs “vacated and their operation permanently enjoined.”

The ruling comes in response to legal action brought by five U.S. companies dependent on imports, but the court said the decision applies universally, not just to the plaintiffs. 

“The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA,” the court wrote.

Trump had announced the tariffs on April 2, calling them “Liberation Day” measures designed to address nonreciprocal trade practices and persistent U.S. trade deficits. 

A 90-day pause was announced on April 9, but the 10% baseline tariff was retained.

The Trump administration filed an immediate appeal, defending the tariffs as necessary to address what it described as a national economic emergency. 

“It is not for unelected judges to decide how to properly address a national emergency,” White House spokesperson Kush Desai said.

The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, is up 0.5% year-to-date, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq-100, has gained 1.7%. Meanwhile, the SPDR Dow Jones Industrial Average ETF Trust (DIA) is down 0.6%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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Tired of jumpy paywalls or clunky centralized processors? PayButton’s WordPress plugin is here to let you sell content with instant eCash (XEC) payments - no signups required. 

You just install the plugin, wrap your premium content with shortcodes, and the system triggers once visitors pay with eCash. It’s basically a direct path from user wallet to your wallet, skipping the usual custodial pitfalls.

Once you install, head to the plugin’s settings. You’ll define your eCash address and a default price. Then it’s a matter of “[paywalled_content] ... [/paywalled_content],” and your content is locked behind a paywall. 

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Deepti Sri·27m ago

If someone wants access, they send eCash to your address, the plugin sees the transaction, and—voilà—content unlocked. It typically takes 2–3 seconds, which is faster than punching in credit card details anywhere else.

You can embed donation or tip buttons, too. With a little customizing, you get “Buy Me a Coffee,” “Donate,” or random stylized calls to action. All user data is kept minimal, so visitors won’t need to create accounts. They just pay. 

On your side, you can monitor analytics - like which addresses paid, which paywalls they unlocked, and how much in total you’ve earned. Perfect if you’re testing different price points or want to see which content is raking in the most tips.

For WordPress-based creators, this plugin might be the simplest crypto paywall solution around, especially since it’s non-custodial. You get direct XEC earnings, no middle entity holding your funds, no monthly platform fees. 

If you want to give it a shot, just search “PayButton” in your WP plugins, or check the official directory. The plugin is free, easy, and merges with any theme. 

Also See: IP Disputes, Meet Onchain Economics

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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German automakers BMW (BMWYY), Mercedes-Benz (MBGAF), and Volkswagen (VWAGY) are in talks with the U.S. over a possible import tariff deal, Reuters reported on Wednesday, citing people familiar with the matter.

The automakers are hoping for a deal in June, a source told Reuters while noting that it would rely on the companies pledging substantial investment in the U.S. to convince the administration.

Another source told the agency that German automakers would get credits for the vehicles they export from the U.S., which would then be deducted from tariffs as part of the proposal being discussed. None of the companies, however, commented on any talks with the U.S. government.

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Deepti Sri·27m ago

While Mercedes has already said that it will add its best-selling GLC SUV to its Alabama plant lineup starting in 2027, BMW is considering adding shifts at the Spartanburg plant, and Volkswagen's Audi is planning to produce some models in the United States, the report noted.

Both BMW and Mercedes also export heavily from the U.S.

While Trump previously threatened to impose 50% tariffs on goods from the EU starting June 1, he has since then rolled back on it after a call with the EU Commission chief.

The European Commission, which oversees the EU's trade policy, is currently attempting to forge a deal with the U.S. to end import tariffs or prevent further hikes.

The region currently faces 25% import tariffs on its steel, aluminium, and cars. All other goods are subject to a 10% tariff.

On Stocktwits, retail sentiment around BMW is trending in the ‘bullish’ territory while sentiment around Volkswagen and Mercedes are in the ‘bearish’ and ‘neutral’ territory, respectively.

Read Next: Boston Scientific Discontinues Worldwide Sales Of Acurate Aortic Valve Systems: But Retail Sentiment Brightens

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Shares of Dick’s Sporting Goods (DKS) climbed on Wednesday afternoon despite Truist lowering its price target by $15, flagging lingering investor caution over the company’s planned deal with Foot Locker and economic risks in the second half of the fiscal year. 

Truist trimmed its price target to $230, down from $245, and maintained a ‘Buy’ rating on the shares, as per TheFly.

According to the brokerage, the company’s first-quarter results and full-year guidance met or slightly exceeded expectations, but the planned acquisition of Foot Locker (FL) remains an overhang.

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Deepti Sri·27m ago

Truist noted ongoing concerns about macroeconomic pressures in the second half of 2025. It While investors may need more time to assess the Foot Locker deal, Truist expects Dick’s competitive strengths to continue supporting the stock.

Dick’s Sporting Goods Executive Chairman Edward Stack said during the company’s earnings call on Wednesday that the deal is expected to generate synergy gains of $100 million to $125 million over the medium term. 

The Foot Locker deal is expected to allow Dick’s Sporting Goods to enter international markets for the first time. The transaction is expected to close in the second half of the year. 

The sporting goods giant also reaffirmed its full-year guidance, including the expected impact of all current tariffs. However, the outlook does not account for acquisition-related costs, investment costs, or results from the Foot Locker acquisition.

Dick’s Sporting Goods reported earnings per share (EPS) of $3.37, beating analyst estimates of $3.21, according to Koyfin data.

Its revenue rose 5% year-on-year, coming in at $3.17 billion, above the Wall Street estimate of $3.12 billion. 

Comparable sales rose 4.5% in the first quarter (Q1), marking the fifth straight quarter of over 4% growth, driven by omnichannel experience and product assortment. 

Dick’s Sporting Goods stock was up 1.7% in afternoon trade on Wednesday. The shares are down 23% this year, and have fallen over 7% in the past 12 months. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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Federal Reserve officials agreed that the committee was well-positioned to wait for more clarity on the outlooks for inflation and economic activity, as economic growth and the labor market remained solid and current monetary policy stayed moderately restrictive.

According to the minutes of the FOMC meeting held in May, officials were of the view that uncertainty about the economic outlook had risen further, “making it appropriate to take a cautious approach until the net economic effects of the array of changes to government policies become clearer.”

“Almost all participants commented on the risk that inflation could prove to be more persistent than expected,” the minutes indicated.

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Deepti Sri·27m ago

Fed officials also stressed the importance of ensuring that longer-term inflation expectations remained well-anchored. Some also noted that expectations might be particularly sensitive because inflation had been above the Committee’s target for an extended period.

“A few participants additionally noted that higher uncertainty could restrain business and consumer demand and that inflationary pressures could be damped if downside risks to economic activity or the labor market materialized,” the minutes said.

Fed officials also highlighted that the Committee might face difficult trade-offs if inflation proves to be more persistent while the outlook for growth and employment weakens.

During its May policy meeting, the central bank maintained its benchmark overnight borrowing rate unchanged in the range of 4.25% to 4.5%, where it has been since December.

Meanwhile, benchmark indices traded mixed following the release of the minutes. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, traded 0.21% lower on Wednesday, while the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, was up 0.05%.

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Fannie Mae announced on Wednesday that it has partnered with Palantir Technologies to develop a new artificial intelligence (AI)-powered fraud detection system.

Palantir’s shares traded 1.39% higher at the time of writing.

Announcing its new Crime Detection Unit (CDU), Fannie Mae said this is a new platform to quickly and precisely detect and prevent mortgage fraud in the U.S. housing market.

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Deepti Sri·27m ago

The company said this partnership will power its CDU with AI-enabled financial crimes data science and investigations technology.

"No one is above the law. In partnership with Palantir, Fannie Mae's Crime Detection Unit will increase safety and soundness by rooting out bad actors in our housing system. This cutting-edge AI technology will help us find criminals who try to defraud our system," said Fannie Mae Chairman William J. Pulte.

The company said its new CDU will look through millions of datasets to detect patterns that were previously undetectable, although it did not specify exactly how it works.

"This new partnership will combat mortgage fraud, helping to safeguard the U.S. mortgage market for lenders, homebuyers, and taxpayers,” said Priscilla Almodovar, Fannie Mae’s CEO.

The company said it holds $4.3 trillion in assets and either owns or guarantees 25% of total single-family mortgages and 20% of multi-family mortgages in the U.S.

Palantir’s co-founder and CEO, Alex Karp, said this partnership will take on attempts to “defraud our mortgage system and exploit hardworking Americans.”

This also comes at a time when President Donald Trump has announced his intention to take Fannie Mae and Freddie Mac public.

"I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President,” he said in a post on his social media platform, Truth Social, on Tuesday.

Palantir’s stock has surged over 65% year-to-date and 493% over the past 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: OpenAI CFO Says ChatGPT-Maker’s New Structure Keeps The Door Open For An IPO

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