US stocks end higher after Supreme Court rules against Trump tariffs

STORY: Wall Street's main indexes ended higher on Friday, with the Dow adding nearly half a percent, the S&P 500 gaining about seven-tenths of a percent and the Nasdaq climbing nine-tenths of a percent.The U.S. Supreme Court struck down President Donald Trump's global tariffs, in a rebuke of one of his key economic policies.Trump called the ruling a "disgrace" and said he would impose a 10% global tariff for 150 days under Section 122 of the Trade Act of 1974.Anna Rathbun is founder and CEO of Grenadilla Advisory.“The markets are mostly in the green and have been throughout the day. And honestly, that is the market feeling a bit of a burden coming off of its shoulders. But it has been moving sideways during the day, not going straight up. And the reason for that, I think, is because it's still uncertain. Just because a ruling came in striking down Mr. Trump's tariffs, that doesn't mean that we're not going to have additional tariffs - and we just heard today that we will. And 150 days later, things might change again. So it makes the future uncertain.”Some of Wall Street's most valuable and widely held companies rose, including a more than 3.5% rise in Google-parent Alphabet. Shares of Amazon and Apple also rallied.Shares of several retailers hit by tariffs also gained, including toymaker Hasbro, online furniture retailer Wayfair, Pottery Barn-owner Williams-Sonoma and luxury furniture seller RH.Among other movers, shares of Akamai Technologies slumped 14% after the cloud company forecast first-quarter adjusted profit below Wall Street estimates.Meanwhile, data released early in the day showed U.S. economic growth slowed more than expected in the fourth quarter, while a separate reading indicated inflation picked up in December.Traders see just over a 50% chance the Fed will cut interest rates by its June policy meeting, according to CME's FedWatch Tool.