Silver retreated on signs investors took profits following a bilstering rally and as the US held off from imposing import tariffs on critical minerals.The white metal fell as much as 7.3% on Thursday after hitting an all-time peak of $93.

Stock index futures pointed higher on Wednesday as investors welcomed President Donald Trump’s decision to hold off on tariffs for critical minerals and his confirmation that he has no plans to dismiss Federal Reserve Chair Jerome Powell.

Supreme Court releases decisions but delays ruling on Trump tariffs, prolonging uncertainty over trade policy and presidential powers.

Trump has described the battle over tariffs in epic terms, warning a loss would tie his hands in trade negotiations and imperil national security. He has said that if he does not win the case, the US would be "weakened" and in a "financial mess" for many years to come.

As U.S. imports from China have declined amid the two countries’ trade war, China has sent more exports to Southeast Asia, Africa, Latin America and elsewhere.

President Donald Trump offered a full-throated defense of his sweeping tariffs on Tuesday, traveling to swing-state Michigan to push the case that he’s boosted domestic manufacturing in hopes of countering fears about a weakening job market and still-rising prices that have squeezed American pocketbooks.

The president said U.S. auto manufacturers have committed more than $70 billion in new domestic investment and cited announcements by Ford Motor Company, General Motors and Stellantis as evidence that production is returning to the United States.

In today’s newsletter: Trump ramps up economic pressure on Iran by announcing a 25% tariff on countries doing business with it. The Supreme Court prepares to weigh oral arguments on transgender student-athletes. And an unlikely presidential ally emerges as the administration rolls out a new economic agenda to address affordability concerns.