Supreme court rules 6-3 against trump on tariffs. The Court rules that the President lacks authority under IEEPA to impose tariffs. IEEPA does not grant the executive power to levy such tariffs. There is no automatic decision to refund tariffs but the Supreme Court says importers can pursue claims through the US Court of International Trade.
Supreme Court does not address eligibility for tariff refunds.
Traders now see FED waiting until July to cut rates.
US100 gains on this news; US dollar however ticks lower.
Daily summary: Wall Street sentiment weakens amid hawkish Fed remarks 🚩 USDIDX at its highest level since July 24
Cocoa Falls 4% 📉 Are High Inventories Weighing on Prices?
US Open: Nasdaq tries to recover loses 🗽 Fair Isaac shares in panic
🚩 Oil extends losses