The sentence of Supreme Court, Which has canceled the huge tariffs imposed by Trump because they were based on a law designed for national emergencies, brought a first positive reaction on US and European stock markets yesterday for the advantage which will be able to draw from it companies and it is expected that there will be far-reaching implications on theinternational economy, while also looking at a possible change of attitude by the Fed. But we will have to wait for the actual the tycoon's countermoves and therefore sessions characterized by uncertainty are expected.
IERI (Yesterday) Wall Street she went up and Treasury yields have increased, with investors weighing the Court's ruling on the one hand, and a weak report on the other. GDP and data on theinflation higher than expectations, which according to some analysts were actually conditioned by the imposition of duties.European STOXX 600 Index hit a new all-time high after the ruling and posted their biggest weekly jump since early January, while prices of'gold they continued to rise.
Trump responded angrily at the ruling, calling it a “shame” and said he would impose a 10% global rate for 150 days under Section 122 of the Trade Act, 1974 to replace the emergency duties imposed by the Supreme Court.
What will happen to the thousands of lawsuits filed around the world against Trump's tariffs?
Thousands of companies all over the world they have tried lawsuits for challenge the duties imposed significant customs duties and have requested reimbursement of the duties paid. According to economists at the Penn-Wharton Budget Model, there is a risk that over 175 billion dollars of US tariffs should be refunded.
The Secretary of the Treasury Scott Bessent he said yesterday that the legal battle over refunds with invalidated taxes It could take “weeks, months, years” to resolve. In the meantime, the administration will impose alternative customs duties, under what Bessent called tried-and-tested authorities, to close the tariff gap left by the Supreme Court's 6-3 ruling.
“No one should expect fare revenue to decrease,” Bessent told the Economic Club of Dallas.
Stock markets celebrate on hopes of corporate gains
Yesterday, Wall Street investors had to weigh worrying U.S. economic data against the Supreme Court ruling. Before Wall Street opened, the Department of Commerce released its preliminary analysis on the Fourth quarter GDP, showing limited growth of 1,4%, while the Personal Consumption Expenditures Price Index, the U.S. Federal Reserve's preferred inflation gauge, revealed that price growth intensified in December.
While economic data would have sunk Wall Street, news of the Supreme Court ruling triggered a buying spree. Dow Jones closed up 0,47%,'S&P 500 at +0,69% and the Nasdaq Composite up 0,90%. Some of Wall Street's most valuable companies rose, with a 3,7% increase in A, Google's parent company, rose 2,6 percent. Amazon and 1,5% for Apple .
The MSCI indicator which includes stocks worldwide rose 5,73 points, or 0,55 percent, to 1.052,94. The index of stocks of the emerging markets rose by 0,32%.
Gold buying continues.spot gold rose 1,92% to $5.095,19 an ounce. U.S. gold futures rose 1,91% to $5.071,00 an ounce. US Treasury yields rose following the Supreme Court ruling. The benchmark 10-year U.S. Treasury yield rose 0,8 basis points to 4,083%, from 4,075% on Thursday evening. The 30-year bond yield rose 2 basis points to 4,7244% from 4,704% on Thursday evening. The two-year bond yield, which typically moves in line with the Federal Reserve's interest rate expectations, rose 1 basis point to 3,48%, from 3,47% on Thursday evening.
Il dollar The dollar lost ground after the U.S. Supreme Court's decision on tariffs, although it was a good week for the U.S. currency. The dollar index, which measures the dollar against a basket of currencies including the yen and the euro, fell 0,14% to 97,75, with the euro rising 0,11% to $1,1785. Against the Japanese yen, the dollar strengthened 0,04% to 155,03. Among cryptocurrencies, the bitcoin gained 1,16% to $67.690,43. Ethereum rose 1,09% to $1.969,21.
The Supreme Court's ruling against a broad set of Trump administration tariffs raises new questions for policymakers Federal Reserve, who have spent the last year trying to figure out how the president's sharply higher import taxes would affect theinflation andeconomic trendIt remains to be seen whether companies will postpone planned price increases due to the ruling, thus reducing inflation, or whether they will postpone hiring or investments due to the uncertainty.
