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: |
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The $1.2 billion clothes reseller is the last shoe to drop in Etsy's failed "House of Brands" experiment. Read more. |
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A new survey finds US adults love peanut butter so much that nearly 4% of the population carries it around with them. Read more. | |
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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. |
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