~6,900–6,911
+0.6% to +0.7%
~22,800–22,900
+0.9% to +1.0%
~49,500–49,600
+0.3% to +0.4%
The U.S. Supreme Court ruled against President Trump's broad emergency tariff policies in a major rebuke to a core economic pillar of his second term. Markets reacted positively, with stocks rising after initial volatility.
Following the Supreme Court decision, President Trump declared he would impose a temporary 10% global tariff. The move has sparked debate over trade policy, refunds, and potential inflation impacts.
Fourth-quarter GDP came in well below expectations at 1.4% annualized, hurt by government shutdown effects, weaker spending, and trade factors. Trump blamed the shutdown for the miss.
Tech-heavy Nasdaq led gains (~1%), while S&P 500 and Dow also recovered in volatile trading. Investors appear to view the tariff ruling as a net positive for corporate costs and inflation pressures.
Oil prices jumped and gold reached $5,000 amid escalating U.S.-Iran tensions. Mortgage rates hit lowest levels since 2022, and PCE inflation gauge remained elevated.