Why Is The US Stock Market Up Today?

Market Recovery - The US stock market experienced a sharp recovery on February 20, following the Supreme Court's ruling that struck down President Trump's tariffs in a 6-3 decision [1][4] - The S&P 500 index is trading around 6,890, reflecting a 0.45% increase from the previous day's close [1][4] Economic Indicators - Advance Q4 GDP growth slowed to 1.4%, significantly below the consensus estimate of 2.8% [3][8] - Core PCE inflation rose to 3.0% year-over-year, marking its highest level since mid-2025 and indicating persistent inflationary pressures [3][8] Market Reactions - The Supreme Court's decision is viewed as a major deflationary catalyst, alleviating concerns over inflation and supply chain issues [3][8] - The S&P 500's movement above the 6,888 level could pave the way for a potential rise towards 6,959 and the psychological milestone of 7,000 [5] Sector Performance - The technology sector (XLK) led the market rebound, while the energy sector (XLE) saw early gains diminish despite rising oil prices [1] - Alphabet (GOOGL) notably surged by 3.8%, attempting to break free from a bearish trend [1] Oil Market Dynamics - US-Iran tensions are keeping oil prices elevated, with WTI holding above $66 and Brent above $71, which initially supported energy stocks [8]