Benzinga Bulls And Bears: eBay, Carvana, Devon — And Supreme Court Nixes Trump Tariffs Benzinga Bulls And Bears: eBay, Carvana, Devon — And Supreme Court Nixes Trump Tariffs

Market Overview - U.S. markets experienced modest gains after a volatile trading week, influenced by mixed economic data, geopolitical events, and upcoming corporate earnings [2] - Major indexes, including the S&P 500, Dow Jones Industrial Average, and Nasdaq, ended higher following a Supreme Court ruling that invalidated former President Trump's tariff regime, which provided a relief bounce [2][3] - Despite the gains, traders remained cautious due to rising Treasury yields and underperformance of the Russell 2000 compared to large-cap stocks, indicating ongoing rotation out of risk assets [2] Tariff and Economic Sentiment - The Supreme Court's 6-3 ruling against broad tariffs imposed under emergency powers alleviated cost pressures for importers and positively impacted stocks related to consumer and industrial demand [3] - However, President Trump indicated plans to implement a new 10% global tariff under different trade laws, maintaining uncertainty around trade policy and its impact on market sentiment [3] - The backdrop of 1.4% GDP growth and persistent core inflation contributed to mixed macroeconomic signals, leading to cautious sentiment among traders [3] Upcoming Catalysts - Investors are preparing for significant upcoming events, including key technology earnings and economic indicators that may influence the Federal Reserve's policy outlook [4] - The focus on AI-related sector scrutiny is expected to play a crucial role in shaping market direction in the near term [4] Stock Highlights Bullish Sentiment - Jim Cramer expressed confidence that Microsoft will perform exceptionally well, noting the stock is currently 25% below its peak [5] - Rackspace saw a significant surge of 217% from its lows as it tested a key long-term trend barrier [5] - Small-cap stocks are showing signs of recovery, which is interpreted as a positive macroeconomic signal [5] Bearish Sentiment - Copart's stock declined following disappointing Q2 earnings results [5] - The "Magnificent 7" saw substantial losses, with the 10 richest individuals losing significant wealth in 2026 [5] - Palo Alto Networks experienced a drop in stock price, raising concerns among investors [5]