New York Stock Exchange Closes Higher Following US Supreme Court Tariff Ruling

Positive Market Close The New York stock market finished the final trading day of the week higher after the US Supreme Court ruled that "emergency" tariffs implemented by President Donald Trump were unlawful.
At the close, the S&P 500 index rose 0.69 percent to 6,909.51 points, while the Nasdaq index gained 0.90 percent to reach 22,886.07 points.
Supreme Court Tariff Decision In a decision closely watched by investors, the Supreme Court ruled that the International Emergency Economic Powers Act (IEEPA), which the tariffs were based on, does not grant the president the authority to impose tariffs.
In a 6-3 vote, the court emphasized that the power to impose taxes and customs duties belongs exclusively to Congress.
Analysts suggest this ruling could provide relief to companies burdened by tariffs and potentially ease inflation concerns.
President Trump's Reaction and Alternative Plans Following the ruling, President Donald Trump described the court's decision as "extremely disappointing" during a press conference.
Trump signaled that he would continue his legal battle, pointing to alternative methods for implementing tariffs, such as Section 122 of the Trade Act of 1974.
Economic Data and Growth Figures Macroeconomic data was also closely monitored in the markets.
The US economy grew by 1.4 percent in the fourth quarter of 2025, falling below expectations.
The sharp decline in growth was attributed to the longest government shutdown in the country's history and a slowdown in consumer spending.
The overall growth rate for the US economy in 2025 was recorded at 2.2 percent.
Inflation and Manufacturing Indicators The core Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, exceeded expectations in December with a 0.4 percent monthly and 3 percent annual increase.
Meanwhile, the manufacturing Purchasing Managers' Index (PMI) fell to 51.2 in February, and the University of Michigan consumer sentiment index was revised to 56.6.