Stocks rise as Supreme Court tariff ruling outweighs soft U.S. data
S&P 500: 6,909.51 (+0.7%)
Nasdaq-100: 25,012.62 (+0.9%)
DJIA: 49,625.97 (+0.5%)
Eurostoxx: 6,131.31 (+1.2%)
U.S. crude futures: $66.48 (+0.1%)
U.S. equities finished higher on Friday as a landmark Supreme Court ruling unwinded much of President Donald Trump’s tariff regime, which lifted stocks and overshadowed softer macro data. All three indices had opened weaker but reversed after the Court ruled that Trump lacked authority to levy tariffs under a 1970s statute, effectively nullifying a large portion of existing duties. Although the president quickly vowed to implement new 10% global tariffs under alternative legal avenues, markets welcomed the temporary reprieve for trade‑exposed technology and consumer giants. The tariff-driven optimism helped offset a pair of disappointing economic releases. December Personal Consumption Expenditures (PCE) inflation accelerated to 3%, above expectations and well above the Federal Reserve’s 2% target, clouding prospects for near‑term rate cuts. Meanwhile, Q4 Gross Domestic Product (GDP) slowed sharply to 1.4%, partly due to the prolonged government shutdown.
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