Stocks rise as the Supreme Court strikes down Trump's tariffs

In response, Trump said he was imposing a 10% global tariff effective immediately under section 122 of the 1974 Trade Act.

Your Evening Briefing February 20, 2026 Stocks rise as the Supreme Court strikes down Trump's tariffs The S&P 500 and Nasdaq 100 rose as the Supreme Court struck down President Donald Trump's reciprocal tariffs. In response, Trump said he was imposing a 10% global tariff effective immediately under section 122 of the 1974 Trade Act. These particular duties can remain in place for 150 days, after which time congressional approval would be required. The Russell 2000 whipsawed throughout the tariff talk, closing lower. Communications was the best-performing sector, lifted by shares of Alphabet. Tariff-sensitive stocks Wayfair, Under Armour, e.l.f. Beauty, Stanley Black & Decker, Williams-Sonoma, Crocs, and Amazon helped propel the consumer discretionary sector to the second-best performer. Energy fared the worst. Core inflation surprised to the upside in December, while the initial read of economic growth in the final three months of 2025 was weak. Stocks that moved higher: Opendoor Technologies jumped as its CEO touted a record October performance. JPMorgan boosted earnings estimates following yesterday's better-than-expected Q4 results. Celsius fizzed after outlining its product shift and multi-brand growth strategy at CAGNY. Live Nation rose after beating Q4 revenue estimates after the bell yesterday. AppLovin ticked up on an unconfirmed social media report that it's working with OpenAI on ChatGPT ads. Though the 25% tariffs on automobiles and auto parts remain in place despite the Supreme Court's ruling, tariffs for certain machinery, lower-cost raw materials, and components were struck down, which was good news for Stellantis and Ford. Moving lower: Diagnostics company Grail tanked after its blood test for detecting cancer failed in a key study. Akamai sank on a weak full-year outlook despite beating Q4 sales estimates. Roblox dropped after LA county filed a lawsuit on allegations that the platform makes children "easy prey for pedophiles." Newmont slipped on a lower production outlook despite beating Q4 estimates. Aave, the largest on-chain lending protocol, dipped as BGD Labs, one of its longest-tenure service providers, announced that it will cease contributions. Etsy sells fashion app Depop to eBay, as the pair's postpandemic paths split further The $1.2 billion clothes reseller is the last shoe to drop in Etsy's failed "House of Brands" experiment. Read more. America's favorite condiment isn't ketchup — it's peanut butter A new survey finds US adults love peanut butter so much that nearly 4% of the population carries it around with them. Read more. Nvidia is close to investing $30 billion in OpenAI as part of its long-discussed funding round, per the Financial Times. The FT says that this investment will effectively be replacing a bigger planned pact between the two companies.  As Microsoft, SoftBank, or Oracle could tell you, being viewed as overly exposed to OpenAI has not been a boon for stocks in recent months. Read more.  Report: Amazon's AI bots have been behind multiple AWS outages AWS accounted for 57% of Amazon's operating profit in 2025. Lucid cuts 12% of its US workforce in a profitability push Lucid's interim CEO said the move was necessary to "improve operational effectiveness" and optimize resources. Prediction markets give slight edge to Netflix in Warner Bros. battle after eventful week The ongoing bidding war between Paramount and Netflix for the acquisition of Warner Bros. Discovery had some significant news this week that could change the outcome. Judge rejects Tesla's attempt to overturn $243 million verdict over fatal 2019 autopilot crash Tesla previously rejected a $60 million settlement proposal regarding the lawsuit. Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025