Supreme Court Decision Spurs Stock Market Rally Amid Tariff Reversal
U.S. stocks rose on Friday following the Supreme Court's decision to overturn President Trump's global tariffs. This buoyed investor sentiment after a day of weak economic data. Companies affected by tariffs, like Hasbro, Mattel, and Wayfair, saw shares climb, while traders anticipate potential economic impacts from rebate issues.
On Friday, U.S. stocks climbed as the Supreme Court struck down President Donald Trump's broad tariffs, offering investors a sense of relief after disappointing economic data earlier curbed enthusiasm.
Companies affected by the tariffs, including major toymakers and luxury furniture brands, saw their shares bounce back, while the ruling sparked discussions around a possible $175 billion refund in U.S. tariff collections.
Despite facing challenges from economic slowdown data, markets, led by tech sector gains, remained buoyant as traders focused on the potential implications of interest-rate cuts expected by June.
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