Stocks Rise as Tariff Ruling Seen Unlikely to Derail Growth – US Market Wrap
US equities climbed while Treasuries and the dollar weakened, as investors assessed the Supreme Court’s rejection of key elements of President Donald Trump’s tariff program as unlikely to materially alter the broader economic trajectory.
More than 330 stocks in the S&P 500 advanced. After the court limited the administration’s use of certain emergency powers to impose tariffs, Trump said he would pursue a 10% global levy on trading partners and maintain parts of his existing trade framework through alternative authorities. Lingering uncertainty over potential fiscal implications kept pressure on the dollar and bonds.
Thousands of companies are preparing to challenge previously paid tariffs, potentially seeking reimbursement for an estimated $170 billion, though the court did not address refunds in its ruling. Treasury Secretary Scott Bessent indicated that tariff revenue in 2026 is expected to remain largely intact, with the administration planning to rely on other congressionally approved trade authorities.
The S&P 500 gained 0.7%, led by technology megacaps, and capped its strongest week since early January. An exchange-traded fund tracking emerging markets reached a record high. The yield on 10-year Treasuries edged up one basis point to 4.08%, while the dollar slipped 0.2%.
