Wall Street kept calm on Friday after the Supreme Court struck down President Donald Trump’s sweeping tariffs, which had triggered panic in financial markets when announced last year, and stocks ticked higher.

Many on Wall Street were likely expecting such a ruling from the Supreme Court, according to Brian Jacobsen, chief economic strategist at Annex Wealth Management. 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.

Among the tentative moves across markets, Treasury yields edged a bit higher in the bond market.

The yield on the 10-year Treasury remained at 4.08 percent, where it was late on Thursday. The two-year yield, which more closely tracks expectations for Fed action, inched up to 3.48 percent from 3.47 percent.

All told, the S&P 500 rose 47.62 points to 6,909.51. The Dow Jones Industrial Average added 230.81 to 49,625.97, and the Nasdaq composite rose 203.34 to 22,886.07. (AP)


Edited by Robert Kemp