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Expand chart
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

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: McConnell temporarily halts in-person lunches for GOP caucus.
  3. Economy: Safety nets to disappear in DecemberAmazon hires 1,400 workers a day throughout pandemic.
  4. Education: U.S. public school enrollment drops as pandemic persists.
  5. Cities: Surge in cases forces San Francisco to impose curfew — Los Angeles County issues stay-at-home order, limits gatherings.
  6. Sports: NFL bans in-person team activities Monday, Tuesday due to COVID-19 surge — NBA announces new coronavirus protocols.
  7. World: London police arrest more than 150 during anti-lockdown protests — Thailand, Philippines sign deal with AstraZeneca for vaccine.

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
16 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.