Market Wire: Supreme Court doesn't rule on Trump tariff case

The US Supreme Court did not rule today on the Trump administration’s use of the International Emergency Economic Powers Act to impose its tariff regime. It issued only a single decision—in an unrelated technical case involving criminal procedure—disappointing investors seeking some clarity on the path forward for the trade levies.

There are signs of selling in single-name equities exposed to tariff refunds, but Treasury yields are holding firm, and currency market trends established during this morning's non-farm payrolls release—namely a surge in the greenback against all of its rivals—have continued.