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Economic Policy · Stock Market · Supreme Court · Tariffs
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.
Supreme Court Strikes Down Tariffs, Sending Stocks Higher and Ending Nasdaq's Slump(current)