Wall Street ended the week on a strong note after the Supreme Court of the United States struck down President Donald Trump’s global emergency tariffs. The ruling reduced trade policy uncertainty, lifting sentiment across financial markets. Investors welcomed the decision as it removes a layer of unpredictability around global supply chains, corporate costs, and international trade relations.

Stocks Push Higher

All three major U.S. indexes finished in positive territory:

• The S&P 500 rose 1.07% to 6,909.51
• The Nasdaq Composite gained 1.51% to 22,886.07
• The Dow Jones Industrial Average climbed 0.25% to 49,625.97

Technology and export-oriented companies led the advance, as easing tariff pressures could support earnings and cross-border trade activity in the months ahead.

Bond Yields Climb on Fiscal Questions

Despite the equity rally, Treasury yields moved higher. Investors are assessing the fiscal implications of potentially refunding previously collected tariffs and the possible impact on government revenue.

• 2-year yield: 3.48%
• 10-year yield: 4.09%
• 30-year yield: 4.73%

Higher yields may also reflect expectations that inflation could remain elevated, limiting how quickly policymakers can ease monetary conditions.

Dollar Weakens, Euro Firms

The U.S. dollar softened as uncertainty surrounding trade policy and its broader economic effects weighed on demand for the currency.

• Dollar Index: 97.75 (down 0.18%)
• Euro: US$1.1786

A weaker dollar can provide some support to U.S. exporters, though it may also signal caution among global investors.

Oil Mixed as Geopolitical Risks Linger

Oil prices were split as markets monitored tensions involving Iran and the possibility of U.S. military involvement.

• Brent crude slipped to US$71.57 per barrel
• West Texas Intermediate edged higher to US$66.39

Energy markets remain sensitive to geopolitical developments, particularly in the Middle East.

Gold Rises on Slower Growth

Gold prices climbed sharply following weaker-than-expected U.S. GDP data and renewed trade developments.

• Spot gold: US$5,095.07 per ounce (+1.92%)
• U.S. gold futures: US$5,110.10 (+2.26%)

Gold often benefits during periods of economic uncertainty, as investors seek defensive assets.

U.S. Growth Slows, Inflation Edges Higher

Fresh data showed the U.S. economy expanded at a 1.4% annualised rate in the fourth quarter, slowing more than anticipated. A steep decline in government spending following last year’s shutdown weighed heavily on growth, though economists expect some rebound in the first quarter.

Consumer spending remained relatively solid, increasing at a 2.4% pace — a sign that household demand continues to support the broader economy.

Inflation pressures, however, firmed:

• The Personal Consumption Expenditures (PCE) index rose 0.4% in December
• Annual PCE inflation accelerated to 2.9%

The combination of moderating growth and persistent inflation presents a delicate balance for policymakers.

Regional & Global Developments

• U.S. Customs will cease collecting tariffs imposed under the International Emergency Economic Powers Act following the Court’s ruling.
• Euro area construction output rebounded month-on-month in December but remains slightly lower year-on-year.
• Trinidad and Tobago’s inflation rose to 0.7% in January, driven mainly by higher food and recreation costs.
• Energy Minister Dr. Roodal Moonilal held discussions with executives from ExxonMobil and Chevron to deepen regional energy collaboration.