Major U.S. stock indexes concluded the week higher on Friday, primarily driven by the Supreme Court's decision to overturn a significant portion of President Trump's tariffs.
The Nasdaq Composite notably ended a five-week losing streak, rising 1.5% for the week, while the S&P 500 and Dow Jones Industrial Average also posted weekly gains of 1.1% and 0.3% respectively. The Supreme Court's 6-3 ruling deemed about 75% of Trump's 2025 tariffs illegal, exceeding presidential authority.
Despite this positive market catalyst, the article also highlighted mixed economic data, including higher-than-expected inflation (PCE price index up 2.9% year-over-year in December) and weaker-than-anticipated fourth-quarter GDP growth of 1.4%. Tensions with Iran also pushed oil prices to a six-month high, contributing to market volatility earlier in the week.
Individual stock movements varied, with Applovin, Alphabet, and Amazon seeing gains, while Grail and Akamai Technologies experienced significant declines.