Investors will be watching for updates on the labor market and President Trump's trade war as markets turn the page on a historically strong May.

A U.S. trade court ruled the president overstepped his authority by imposing across-the-board duties on imports from trading partners.

President Trump stated on Wednesday (May 28th) he will determine within two weeks if Vladimir Putin is serious about Ukraine peace negotiations or face a “different response,” likely new sanctions. -This comes after Trump called Putin “crazy” following recent massive Russian drone attacks on Ukrainian cities.

The White House called for the Supreme Court to overturn judicial rulings blocking most of the tariffs Trump has imposed to negotiate trade agreements.

Oil prices fell over 1% on Thursday, retreating from earlier gains, as investors weighed the potential effects of a U.S. court ruling that blocked the most sweeping of President Donald Trump's tariffs.

"We haven’t heard directly from President Trump on the matter yet, so it’s unclear how the administration might respond going forward," one analyst notes.

Toyota has a big year ahead, with fully two dozen new models set to debut under the Toyota and Lexus brand names. But the Trump administration’s tariffs has left the carmaker in a state of limbo, while a new ruling by a federal trade court has only complicated matters.

Economist and author James Rickards says the economic powers of US President Donald Trump are “dictatorial”. “The White House is definitely going to win,” Mr Rickards told Sky News host Ed Boyd. “The statute that the President used,

President Trump has been hesitant to impose new sanctions on Russia, citing concerns about affecting potential peace negotiations.

Stocks moved lower midday on Friday on a Bloomberg report that the Trump administration is considering broadening tech sanctions on China. This comes after President Donald Trump said China has “totally violated” its trade agreement with the United States,