Global Markets Brace for Key U.S. Tariffs and Jobs Report Decisions

Global markets are on edge as investors anticipate a crucial U.S. Supreme Court ruling on the legality of Trump's global tariffs. Meanwhile, the U.S. jobs report remains a focal point, with economists watching for signs of economic slowdown. Oil prices climbed amid geopolitical tensions, influencing market trends.

As global markets tiptoe into uncertainty, investors eagerly await the U.S. Supreme Court ruling on President Trump's controversial global tariffs. These levies have previously rattled markets and a decision to annul them could realign economic dynamics, with potential impacts on U.S. government revenue and Treasury yields.

Tethered to another pivotal economic indicator, December's U.S. jobs report has captured market attention. Despite showing signs of a cooling labor market, no immediate recession risks are on the horizon, according to economists. The report may adjust expectations for Federal Reserve interest rate cuts this year, highlighting its significance.

Geopolitical tensions, particularly concerning Venezuela and the Middle East, have buoyed oil prices this week, marking their largest rise since late October. U.S. diplomatic maneuvers in Venezuela have played into this narrative, impacting global oil supply expectations and investor sentiment.

(With inputs from agencies.)