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Data: FactSet; Chart: Axios Visuals

While stock markets around the globe have turned lower following President Trump's declaration last Sunday that he would raise tariffs on Chinese imports to 25%, New Zealand has managed to shake off the trade war blues. The S&P New Zealand 50 is the world's lone major benchmark index in the green for May.

What's happening: Its central bank cut interest rates to the lowest level they've ever been last week, coinciding with a jolt higher in stock prices while the rest of the globe was mired in trade war uncertainty.

Yes, but: Rate cut euphoria doesn't last forever. The bourse fell 0.56% in Tuesday trading. However, it's still outperforming the S&P and MSCI's All-Country World Index by a wide margin this month.

Bonus: The Reserve Bank of New Zealand's last cut was November 2016.

Go deeper: The trade war escalation is changing Fed outlooks

Go deeper

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

Updated 50 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 31,186,000 — Total deaths: 962,343— Total recoveries: 21,327,416Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 6,832,970 — Total deaths: 199,816 — Total recoveries: 2,615,519 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.
Dave Lawler, author of World
1 hour ago - World

Trump and Xi to give dueling speeches Tuesday at UN General Assembly

Illustration: Lazaro Gamio/Axios

President Trump and China’s Xi Jinping will address the UN General Assembly just minutes apart on Tuesday morning — with Russia’s Vladimir Putin following soon thereafter.

The big picture: Trump has promised a “strong message on China.” Xi, meanwhile, is expected to laud global cooperation — with the clear implication that it can be led from Beijing.

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