Wall Street kept calm Friday after the Supreme Court struck down President Trump's sweeping tariffs, which had triggered panic in financial markets when announced last year, and stocks ticked higher.
- The Dow rose 230.81, or 0.5%, to 49,625.97, finishing the week up 0.3%.
- The S&P 500 rose 47.62 points, or 0.7%, to 6,909.51, closing out the week up 1.1%.
- The Nasdaq composite rose 203.34, or 0.9%, to 22,886.07, ending the week 1.5% higher.
Many on Wall Street probably were expecting such a ruling, said Brian Jacobsen, chief economic strategist at Annex Wealth Management, the AP reports. That likely led to the relatively muted reactions across financial markets, and trading remained tentative as investors tried to suss out the long-term effects. Also, tariffs apparently aren't going away despite the Supreme Court's decision; Trump said he'll use other avenues to put taxes on imports. Heading into the day, the main event for markets had seemed to be discouraging reports showing slowing US economic growth and accelerating inflation. They found a relatively muted response from investors.
On Wall Street, Akamai Technologies dropped 14.1% for one of the market's sharpest losses. The cybersecurity and cloud computing company reported stronger results for the end of 2025 than analysts expected, but it gave a profit forecast for the upcoming year that fell short of estimates. On the winning side was Comfort Systems, which rose 6.5% after the provider of heating, ventilation, air conditioning, and electrical services reported a stronger profit for the latest quarter than analysts expected. CEO Brian Lane said his company is seeing "unprecedented demand."
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