Court of International Trade just overturned emergency tariffs
https://www.courtlistener.com/docket/698889...
In accordance with the court’s opinion of this date, it is hereby ORDERED that Executive Order 14193, Imposing Duties To Address the Flow of Illicit Drugs Across Our Northern Border, 90 Fed. Reg. 9113 (Feb. 1, 2025); Executive Order 14194, Imposing Duties To Address the Situation at Our Southern Border, 90 Fed. Reg. 9117 (Feb. 1, 2025); Executive Order 14195, Imposing Duties To Address the Synthetic Opioid Supply Chain in the People’s Republic of China, 90 Fed. Reg. 9121 (Feb. 1, 2025); Executive Order 14257, Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits, 90 Fed. Reg. 15041 (Apr. 2, 2025) (collectively, the “Challenged Tariff Orders”); and all modifications and amendments thereto; be, and hereby are, declared to be invalid as contrary to law; it is further ORDERED that the operation of the Challenged Tariff Orders and all modifications and amendments thereto be, and hereby is, permanently enjoined; it is further ORDERED that within 10 calendar days necessary administrative orders to effectuate the permanent injunction shall issue; and it is further ORDERED that each party shall bear its own costs.
S&P 500
SPY
trading on ARCX
since 1993
$588.40
(Δ -0.11%
)
-$0.66
since open
The ETF tracks the performance of 500 major United States companies and provides broad market exposure through its diverse portfolio of large-cap stocks.
type | open | high | low | volume |
---|---|---|---|---|
etf | $588.93 | $591.13 | $583.24 | 90.62M |
Jamie Dimon explains the unintelligent investor ... "extraordinary amount of complacency."
Meanwhile, TSLA is up 6% on news sales are down over 40% in Europe.
https://www.cnn.com/2025/05/19/business/jam...
Fun fact: before holidays like Memorial Day, the stock market has often seen a tendency to perform better in the trading days leading up to the closure. Afterwords, levels return to where they ought to be, assuming no other outstanding news during the closure.
What I'm saying is ... enjoy that BBQ tomorrow because Tuesday you're gonna be puking it up on the wild ride in store for us.
Fed officials just stated no rate cuts until at least September. Probably makes sense considering the impending price increases due to tariffs. In theory those price increases are temporary, but I think we all know they really aren't.