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Tariffs, Tensions, And Repriced Risk
U.S. equity markets advanced this week as investors parsed a deluge of headlines, including a major Supreme Court tariff ruling, escalating Middle East tensions, soft economic data, and hawkish Fed-speak. The Supreme Court ruled 6-3 to restrict the President's authority to impose broader tariffs under the IEEPA framework, a widely expected move that was quickly countered by the White House. Investors also shrugged off renewed tensions between the U.S. and Iran, which sent oil prices to seven-month highs. The S&P 500 advanced 1.1% - its best weekly gains since early January.
