Supreme Court Ruling Sparks Wall Street Surge

Wall Street showed significant gains on Friday following a pivotal decision by the Supreme Court, which ruled against U.S. President Donald Trump's broad tariffs executed under the International Emergency Economic Powers Act of 1977.

President Trump had introduced these tariffs last February, claiming they were necessary under the 1977 economic sanctions law designed for national emergencies. These 'Liberation Day' tariffs, announced on April 2, imposed a standard 10% duty on all imports to the U.S. and included additional tariffs between 15% and 50% on various foreign products.

These tariffs, featuring specific levies such as a 50% rate on steel and aluminum and 25% on auto parts, resulted in thousands of companies globally contesting and seeking refunds through lawsuits. By 10:02 a.m. ET, the Dow Jones increased by 207.03 points, while the S&P 500 and Nasdaq Composite rose by 33.44 and 153.93 points, respectively.