Stocks finished the day higher, after the U.S. Supreme Court ruled that most of President Donald Trump's tariffs would not be implemented, much to the relief of many companies. Trump retaliated and said he will put a 10% global tariff into effect, however. Investors also brushed off this morning's gross domestic product (GDP) data, which came in at 1.4% for Q4, much lower than the 2.5% expectation. The impressive turnaround put the Dow back in the black for the week alongside the Nasdaq and S&P 500.
Gold, Oil Log Weekly Wins
Despite rising pressure amid Trump's decision on whether to strike Iran, crude maintained a steady pace. March-dated West Texas Intermediate (WTI) crude inched 4 cents lower to settle at $66.39 barrel for the session, but added 5.9% for the week.
Gold prices moved higher, though some gains were pared after the Supreme Court tariff ruling. April-dated gold futures rose 1% to settle at $5,045 per ounce on the day and tacked on 0.7% on the week.
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