Wall Street The week ended in green after the ruling of the Supreme Court of USA that declared US President Donald Trump’s tariffs illegal trumpand which promoted titles related to electronic commerce.
At the closing of the New York trading floor, the Dow Jones of Industriales rose a 0.47%until 49,625 units; the selective S&P 500 advanced a 0.69%to stay in 6,909 points, and the technological Nasdaq won a 0.9%until the 22,886 whole.
The Supreme Court ruled this Friday that the United States Government exceeded the emergency powers invoked by Trump to impose a large part of its taxes on its trading partners.
Market reaction
The ruling of the highest court encouraged the investors and made the actions related to electronic commerce, since the Republican’s taxes had affected the prices that these companies charge.
- At the close of the day, Etsy a shot was fired 8%, eBay a 4%, Shopify a 2%the matrix of Temu, Pinduoduo Holdingsa 3%, Wayfair a 2% and amazona 2.5%.
The invalidation of the tariffs overshadowed the news that the American economy expanded a 1.4% at an annualized rate, reflecting a slowdown after the increase in 4.4% recorded in the previous period.
Geopolitical context
On the sidelines, Wall Street culminated a week marked by the publication of the minutes of the last meeting of the Federal Reserve (Fed)where the different opinions of its members on the path of monetary policy.
Despite this, since last Friday’s closing, the New York stock market has registered advances: Dow Jones went up a 0.25%he S&P 500 a 1.05% and the Nasdaqa 1.53%.
Meanwhile, at the geopolitical level the focus has been on USA and Iranwho have recently held talks about the Persian nation’s nuclear program.
- trump hinted this Friday that he could be considering a limited military action against Iran as a pressure measure to reach an agreement with Tehran and limit its nuclear program.
The ups and downs between both countries have especially influenced the price of Texas Intermediate Oilwhich in the weekly count has risen 5.8%.
Operators fear that a war between USA and Iran affect oil transported in the Strait of Hormuza route through which approximately a third of crude oil exports that pass by sea circulate.
On the other hand, the actions of Blue Owl Capital fell today a 5% after the company this week announced a change to the way investors can withdraw their money from one of its funds, raising fresh concerns about potential problems in the private credit sector.
