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In a significant turn of events for global financial markets, a U.S. court ruling has halted President Donald Trump's plans to impose extensive tariffs on imports under emergency powers. The news spurred a notable boost in U.S. futures early Thursday and saw oil prices climbing over a dollar. Concurrently, the U.S. dollar strengthened against both the yen and the euro.

The court's decision challenges Trump’s use of the 1977 International Emergency Economic Powers Act to justify large hikes in import duties. However, the White House swiftly filed an appeal, leaving the interim adherence to the ruling by Trump uncertain. Although the long-term resolution of these legal disputes remains in limbo, investors responded positively after enduring months of instability due to Trump’s trade war.

The S&P 500 futures rose by 1.5%, while the Dow Jones Industrial Average futures saw a 1.2% increase. Across the Atlantic, Germany's DAX was up by 0.5% at 24,160.75, Paris's CAC 40 jumped by 0.9% to 7,860.67, and London's FTSE remained nearly static at 8,722.63. In Asia, Japan's Nikkei 225 enjoyed a 1.9% surge to 38,432.98, reflecting relief as Japan has been advocating for the removal of U.S. tariffs.

The ruling also led to the U.S. dollar rising against the yen, hitting 145.40 yen from 144.87 yen the previous day. This development comes after a panel of three judges reviewed several lawsuits, casting doubt on Trump's trade measures that had disrupted the global economic scene, affecting inflation and commerce.

Elsewhere, Hong Kong's Hang Seng climbed 1.3% to 23,561.86, while Shanghai’s Composite index increased by 0.7% to 3,363.45. Australia’s S&P/ASX 200 saw a mild rise of 0.2% to 8,409.80. South Korea’s Kospi recorded a significant 1.9% gain to 2,720.64, bolstered further by the Bank of Korea's interest rate cut to 2.5%.

While Taiwan's Taiex dipped slightly by 0.1% and India's Sensex fell by 0.2%, the overall sentiment in the markets was buoyed by hopes that the disruptive impact of Trump’s tariffs might be easing. Despite recent declines—with the Dow and NASDAQ dropping by 0.6% and 0.5% respectively—the S&P 500 remains within 4.2% of its record high.

In corporate news, Nvidia's stock soared by 6.6% in after-hours trading due to strong quarterly results driven by high demand for its advanced chips. Macy’s shares wavered throughout the day, ultimately closing down by 0.3% despite better-than-expected earnings.

In the bond market, the 10-year Treasury yield increased slightly to 4.52%. Meanwhile, U.S. benchmark crude oil rose to $62.90 per barrel and Brent crude climbed to $65.32 per barrel. Lastly, the euro edged down to $1.1280 from $1.1292.