USA: Stocks Swing as Trump Hits Back with 10% Tariff.

US stocks rose on Friday with the S&P 500 gaining 0.7% and the Nasdaq rose 0.9% after the Supreme Court struck down President Trump’s reciprocal tariffs. The Dow added 0.5%, 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 2.6% and 1% 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 with Alphabet leading the way after adding 3.7%. 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.