US market | US stocks end higher after the Supreme Court rules against Trump tariffs

U.S. stocks closed higher on Friday, led by gains in Alphabet, Amazon and other Wall Street heavyweights after the Supreme Court struck down President Donald Trump’s global tariffs. The U.S. Supreme Court, which has a conservative majority, ruled 6-3 against Trump’s global tariffs, which were introduced last year under a federal law intended for national emergencies. Trump called the ruling a “disgrace” and said he would impose a 10% global tariff for 150 days under Section 122 of the Trade Act of 1974 to replace emergency measures that the Supreme Court struck down.

Investors were relieved that Trump’s recently announced global rate wasn’t higher, said Mike Dickson, head of research and quantitative strategies at Horizon Investments in Charlotte, North Carolina.“Today we are removing some of the uncertainty and moving into the next phase,” said Dickson. Some of Wall Street’s most valuable and widely held companies rose, including a 3.7% rise at Google parent Alphabet, a 2.6% rise at Amazon and a 1.5% rise at Apple.

Shares of US toymaker Hasbro, online furniture retailer Wayfair, Pottery Barn owner Williams-Sonoma and luxury furniture retailer RH – all hit by tariffs – rose between 0.5% and ‌2.3%. Thousands of companies around the world have filed lawsuits challenging Trump’s sweeping tariffs and demanding reimbursement for the duties they paid. According to the economists at the Penn-Wharton Budget Model, there is a risk that more than $175 billion in U.S. tariff collections will have to be refunded.

The S&P 500 climbed 0.69% to end the session at 6,909.51 points.

The Nasdaq rose 0.90% to 22,886.07 points, while the Dow Jones Industrial Average rose 0.47% to 49,625.97 points. Nine of the eleven S&P 500 sector indexes rose 2.65%, led by communications services, followed by a 1.27% increase in consumer discretionary.

This week, the S&P 500 rose 1.08%, the Nasdaq gained 1.51% and the Dow Jones rose 0.25%.

The S&P 500 is up almost 1% in 2026, after a gain of more than 3% in MSCI’s global stock gauge.

Data released early in the day showed US economic growth slowed more than expected in the fourth quarter, while a separate reading showed inflation rose in December. Traders see a little more than a 50% chance that the Fed will cut rates at its June policy meeting, according to CME’s FedWatch Tool. Investors nervous about the health of Wall Street’s AI rally will scrutinize Nvidia’s quarterly results next Wednesday. AI-linked tech stocks have been on the move in recent months due to concerns about high valuations and limited evidence that massive investment in AI drives revenue and profit growth.

Industries ranging from software to logistics have also been hit by concerns that rapidly improving AI tools could disrupt their business models and intensify competition.

Akamai Technologies fell 14% after the cloud company forecast first-quarter adjusted earnings that were lower than Wall Street estimates.

Within the S&P 500, advancing issues outpaced declining issues by a 2.0-to-one ratio.

The S&P 500 recorded 34 new highs and 7 new lows; the Nasdaq recorded 81 new highs and 153 new lows.

Volume on US exchanges was relatively low, with 18.3 billion shares traded, compared to an average of 20.3 billion shares over the previous twenty sessions.

(Reporting by Sruthi Shankar and Shashwat Chauhan in Bengaluru, and by Noel Randewich in San Francisco; additional reporting by Sinead Carew in New York; Editing by Pooja Desai and David Gregorio)