Non-Farm Payrolls and Tariff Ruling Dominate Market Focus as Venezuela Event Proves Minimal

The U.S. Supreme Court has scheduled Friday as an opinion day, raising expectations of a ruling on the legality of global tariffs imposed by President Donald Trump using the International Emergency Economic Powers Act. Analysts and market participants are closely watching the outcome, as a potential rejection of the tariffs could reshape trade dynamics and impact the broader fiscal outlook.

Indian rice exporters are urging the government to provide targeted fiscal support in the 2026 Union Budget to offset rising costs and environmental stress in the sector. The Indian Rice Exporters' Federation has requested tax incentives, interest subvention, and freight support to maintain India's dominance in global rice trade.

Goldman Sachs raised its price target for TSMC to NT$2,330.00 from NT$1,720.00, citing strong demand for AI-driven silicon and capacity constraints. The firm expects TSMC to deploy over US$150 billion in capital across 2026–2028 to meet structural demand.

What Are Analysts Watching Next?

The Supreme Court's decision on the tariffs could create refunds for importers and raise questions about the legality of unilateral trade policies. A ruling against Trump would mark a major legal setback for the administration and could influence broader economic policy debates.

India's rice sector faces structural challenges, including groundwater depletion, high storage costs, and market volatility. Exporters are pushing for a 4 per cent interest subvention, freight reimbursement, and RoDTEP support to remain competitive. These measures are seen as critical to sustaining India's 40 per cent share of global rice exports.