US stock market today: Why Dow, S&P 500, Nasdaq are rising today - December jobs report and Supreme Court tariff ruling take center stage

Economic Indicators - The S&P 500 rose approximately 0.3% as investors reacted to the December jobs report, which showed nonfarm payrolls increased by roughly 50,000, slightly below expectations, while the unemployment rate decreased to 4.4% [1][14] - The U.S. job market exhibited slower growth in December, with payroll gains weaker than anticipated, but a slight decline in unemployment suggested stable labor conditions [5][6] - Economists noted that job creation in late 2025 was the slowest in years, influenced by climate uncertainty, trade tensions, and technological shifts, yet wage gains remained positive and layoffs were modest [6] Market Reactions - The Dow Jones Industrial Average rose to around 49,279, while the Nasdaq Composite traded above 23,514, indicating a positive finish for all three major indexes [3][1] - Energy-related stocks like NuScale Power and Applied Digital saw significant gains of 7.7% and 7.9% respectively, reflecting a rotation in sectors benefiting from fiscal and trade policies [9][1] Supreme Court Tariff Review - The Supreme Court is reviewing Trump-era tariffs imposed under emergency authority, with a ruling that could reshape U.S. trade policy and influence corporate planning across various industries [2][10] - If the court strikes down the tariffs, companies could claim between $150 billion and $200 billion in refunds, potentially boosting sectors such as retail, consumer goods, and technology [11][15] - Conversely, if tariffs are upheld, persistent trade barriers could increase costs for many industries, potentially slowing hiring and investment [11][15] Geopolitical and Policy Influences - Broader geopolitical tensions, particularly regarding U.S. policy toward Iran and the Middle East, are affecting oil markets and global investor risk appetite [12] - President Trump directed federal agencies to purchase up to $200 billion in mortgage-backed securities to lower long-term interest rates, which could influence bond markets and housing affordability [13]