Stocks Soar as Supreme Court Strikes Down Trump's Tariffs

U.S. stocks rallied on Friday, driven by gains in major firms including Alphabet and Amazon. This upswing followed the Supreme Court's decision to annul President Trump's global tariffs, alleviating investor concerns over potential higher tariffs imposed by the former president.

The conservative-majority court ruled 6-3 against the tariffs, which were initially established as an emergency measure. Despite the ruling, Trump vowed to impose a new 10% global tariff for 150 days, using Section 122 of the Trade Act of 1974, to replace the nullified tariffs. Market analysts noted that traders found solace in the tariffs not increasing further.

Key Wall Street indices recorded gains, with the S&P 500 climbing 0.69% to 6,909.51 points, Nasdaq up 0.90% to 22,886.07 points, and Dow Jones rising 0.47% to 49,625.97 points. Meanwhile, economic indicators showed slower growth in the fourth quarter and rising inflation, keeping investors vigilant ahead of the Federal Reserve's decisions on interest rates.