US Stocks Mixed in Afternoon Trading

US stocks rose on Friday as the S&P 500 gained 0.7% and the Nasdaq rose 1% after the Supreme Court struck down President Trump’s reciprocal tariffs. The Dow added 200 points, recovering from early losses despite a weak 1.4% GDP print weighed down by the government shutdown. While the court ruled the administration lacked authority under IEEPA to impose sweeping duties, Trump immediately countered by announcing a new 10% global tariff via executive order. Amazon and Home Depot jumped 2% as investors weighed potential refunds of $175 billion against the threat of these new levies. Tech strength helped the Nasdaq snap a five-week losing streak even as core PCE inflation held at a sticky 3%, keeping the Fed on guard. Traders now face a new tug-of-war as the removal of original tariff uncertainty is met by fresh protectionist measures, with the White House vowing a stronger direction. The session remains highly volatile as markets digest the mix of legal setbacks and new trade mandates.

US stocks rose in volatile trading on Friday afternoon after the Supreme Court struck down President Trump's emergency tariffs, sparking a relief rally across trade-sensitive sectors. The S&P 500 gained 0.6% and the Nasdaq climbed 0.8% while the Dow added 0.2% as the court ruled the administration exceeded its authority. Amazon jumped 2% on the removal of import cost headwinds and Alphabet rose nearly 4% as the decision eased fears of a major inflationary catalyst. The rally pushed past a downbeat GDP report showing the economy grew just 1.4% in Q4, far below estimates. Markets also navigated sticky inflation data with core PCE holding at 3%, keeping the Fed on a data-dependent path. While industrials benefited from potential tariff refunds, gold miner Newmont fell 4% on lower production guidance. Despite the volatility the Nasdaq is set to snap a five-week losing streak as the courts rebuke provides a temporary green light for equity bulls.

US stocks swung higher on Friday after the US Supreme Court struck down a group of tariffs passed by the US presidential administration. The Nasdaq 100 rose 1% and the S&P 500 added 0.6%, while the more defensive Dow added 0.3%. The move suspended IEEPA-based "reciprocal" tariffs by President Trump targeted against countries and tariffs passed by citing fentanyl concerns, with models estimating that $175 billion could be refunded. Industrial companies and manufacturers rose following the news. Alphabet, Amazon, and Meta rose around 2% each. In the meantime, the US GDP grew less than expected to challenge the view that the economy was robust to tariffs and the government shutdown. Stocks were also pressured by a surge in the PCE price indexes, combined with another increase in oil prices to lift longer yields. Banks and lenders remained under pressure on higher credit costs. Meanwhile, Newmont was slightly below the flatline as it forecasted lower bullion production this year.