US Stock Market Today: The Dow Jones moved higher on Friday after the U.S. Supreme Court canceled former President Donald Trump’s global tariffs. The decision gave relief to many companies that depend on imports and helped the stock market recover from early losses.
The Dow Jones Industrial Average gained 130.43 points, or 0.26%, to close at 49,525.59. Earlier in the day, it was down more than 200 points.
The S&P 500 rose 0.66% to 6,907.34, and the Nasdaq Composite jumped 1.11% to 22,935.19, led by strong tech stocks.
Why Did Dow Jones Rise Today?
The main reason for the rally was the Supreme Court’s 6-3 decision to block Trump’s global tariffs. The court said former President Donald Trump went beyond his legal powers under a 1977 emergency law.
Chief Justice John Roberts wrote that the law does not give unlimited power to impose tariffs on imports.
This decision lowered costs for businesses and increased investor confidence in the market.
Dow Jones Performance Today
The Dow Jones recovered strongly in the afternoon. Retail and industrial companies gained because lower tariffs mean lower import costs.
Stocks like Walmart, Home Depot, and Caterpillar Inc. moved higher after the news.
Tech Stocks Push Nasdaq Higher
The Nasdaq ended its five-week losing streak as major tech companies gained.
Shares of Amazon rose more than 2%, while Alphabet Inc. gained nearly 4%. Investors believe lower tariffs will reduce global supply costs.
However, Intel shares fell slightly.
Economic Data Creates Early Pressure
Before the rally, markets were under pressure because:
- U.S. GDP growth slowed to 1.4% in the fourth quarter.
- Inflation stayed high at 3%, which is higher than the 2% target set by the Federal Reserve.
- Despite these concerns, the court decision helped markets finish in positive territory.
The Dow Jones and other major U.S. indexes closed higher after the Supreme Court blocked Trump’s global tariffs. Even though GDP growth slowed and inflation stayed high, investors focused on the positive impact of the ruling.
Also Read: Accenture AI Tools Now Decide Promotions? Big Change for Employees