The S&P 500 (SNPINDEX:^GSPC) rose 0.69% to 6,909.51 today as a Supreme Court tariff ruling sparked a broad relief rally despite mixed macro data. The Nasdaq Composite (NASDAQINDEX:^IXIC) gained 0.90% to 22,886.07, and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.47% to 49,625.97.
Tariff beneficiaries rallied, with e‑commerce names like Wayfair (NYSE:W), Amazon (NASDAQ:AMZN), eBay (NASDAQ:EBAY), and Etsy (NYSE:ETSY) all climbing. Etsy gained 8.39% to close at $52.18 after its Q4 earnings beat expectations. Alphabet (NASDAQ:GOOGL) jumped more than 4% and Micron Technology (NASDAQ:MU) advanced on AI‑memory optimism.
Markets rose following the Supreme Court’s tariff decision in what was a volatile day of trading. The court ruled that the government had exceeded its authority in using federal emergency powers to impose tariffs. President Trump announced he would use a different trade law to introduce a 10% global tariff.
The dollar slipped on the news, while stocks made an intraday reversal. The major indices finished the week in the green. A number of companies, including major players like Costco (NASDAQ:COST) and Toyota (NYSE:TM), will try to recoup an estimated $170 billion in levies they have already paid.
The court’s announcement somewhat overshadowed the Bureau of Economic Analysis’s release of economic data for the final three months of 2025. Q4 GDP grew by 1.4% year over year, slower than expectations and down from 4.4% the previous quarter. The prolonged government shutdown took its toll on economic growth.
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