On Friday, Wall Street saw an increase in stock prices as they interpreted a recent decision from the US Supreme Court, which ruled against certain tariffs imposed by the Trump administration. The court's ruling, which was decided by a six-to-three vote, stated that the International Emergency Economic Powers Act from 1977 does not empower the president to unilaterally impose tariffs. This legal setback was met with criticism from President Trump, who expressed his displeasure over the justices' decision, particularly towards those he had appointed, and indicated his intention to impose a separate 10 percent uniform tariff under different legal grounds.

The market had a rocky start to the day, initially moving downward on the back of disappointing economic data, but rebounded to positive territory as the implications of the Supreme Court ruling closely monitored by investors began to set in. Analysts noted that the ruling could potentially lead to a decrease in inflation rates, which could be interpreted as a long-term positive outcome for the economy despite the immediate uncertainty surrounding the political and legal repercussions of Trump's response to the ruling. The S&P 500 index ultimately closed up by 0.7 percent, signaling market optimism in light of the shifting legal landscape regarding tariff policies.

This court decision could have substantial implications not only for current policies but also for future economic strategies and political dynamics within the administration. As Trump vows to impose new tariffs, the effectiveness and legality of such measures may come under scrutiny, leading to further legal challenges and shifts in investor confidence. The mixed reactions among analysts highlight the complexities of the economic environment as it faces turbulent conditions both domestically and internationally, reinforcing the importance of closely watching developments in US trade policies and their impacts on the market.