Price Increases - Amazon has raised prices by 12.8% this year, while Target and Walmart have increased prices by 5.5% and 5.3% respectively [2] - The price increases for all three retailers are attributed to the impact of new U.S. tariffs, with Amazon's increases occurring before the tariffs were imposed, possibly due to price normalization after holiday discounts [3] Marketplace Dynamics - Amazon earns a higher percentage of its revenue from third-party sales compared to Target and Walmart, making its marketplace sellers, often small businesses, more vulnerable to tariff-related cost increases [4] - Third-party sellers lack the scale, inventory flexibility, and private-label leverage that larger retailers like Walmart and Target possess to offset costs [4] Broader Industry Trends - A report indicated that 90% of goods firms and over 70% of services firms among mid-market companies have raised prices in response to tariffs and macroeconomic pressures [5] - Some companies are absorbing most of the tariff costs due to concerns about losing market share to competitors who do not raise prices, as well as the temporary nature of the tariffs [6] - Goldman Sachs economists estimated that consumers will ultimately bear more than 50% of the total cost of U.S. tariffs, with consumers having shouldered about 22% of the cost as of mid-year [7]

Case Overview - The Supreme Court is hearing a major case concerning President Trump's authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA) [1] - The central question is whether the President can use IEEPA to impose tariffs, given that the act doesn't explicitly mention tariffs or duties [1][2] - Lower courts, including the International Court of Trade, have ruled against the President's use of IEEPA for tariffs [3] Legal Arguments - The President argues that the fentanyl crisis and trade deficit constitute "unusual and extraordinary circumstances," justifying the use of emergency powers [2] - Opponents argue that imposing tariffs is a power that belongs to Congress, not the President [2] - Amicus briefs overwhelmingly oppose the tariffs, with 40 briefs against and 10 in favor, including submissions from the Chamber of Commerce, small businesses, and law professors [4] Key Players - The plaintiffs are small businesses, including a wine exporter and a toy goods company [5] - Neal Katyal, a former acting solicitor general with an hourly rate of $3,000, is arguing for the plaintiffs [5] - The solicitor general is arguing on the other side, representing the government [6] Potential Outcomes and Implications - A ruling against the President would limit the use of IEEPA for imposing tariffs [10] - Even if the President loses the case, the administration may seek other ways to implement tariffs [11] - Bloomberg Economics estimates the U S is collecting $556 million daily in IEEPA tariffs, projecting over $140 billion by the end of 2025, raising questions about potential reimbursements [13]

Legal & Policy Analysis - The Supreme Court is reviewing the president's use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs, with justices questioning whether the president is infringing on Congress's authority [1][2][9] - Some justices expressed skepticism about the administration's broad view of executive authority in foreign affairs and the delegation of power from Congress to the president [2][3][4] - The focus of the legal argument is whether IEEPA, which grants the president power to regulate imports, also includes the power to impose tariffs [9] - There is a debate on whether the tariffs are regulatory or revenue-raising, with the government arguing they are primarily regulatory, despite raising revenue [10][11] Economic Impact & Trade Strategy - The Trump administration views tariffs as a cornerstone of its economic policy, and is likely to pursue alternative measures if the current tariffs are struck down by the Supreme Court [14] - Alternative measures to tariffs would likely involve investigations by the Commerce Department or the International Trade Commission, requiring more time than the current approach [15] - The full impact of the hundreds of billions of dollars of tariffs collected is still being assessed, with uncertainty about whether it can be done without harming the economy [17] - Companies should prepare for some form of tariffs, whether these or others, as the administration is expected to continue using them [18] Market Outlook & Timeline - The Supreme Court's decision is expected relatively quickly, potentially before the end of the year or early next year, due to the expedited basis of the case [19]

Market Overview - The market is experiencing a rebound with the Dow up more than 300 points, S&P 500 up about 0.7%, and NASDAQ rallying about 1% [2][50] - Trade-sensitive stocks, including automakers and apparel retailers, are seeing gains following Supreme Court hearings regarding President Trump's tariff policies [2][10] Supreme Court Hearing on Tariffs - The Supreme Court justices, including Chief Justice John Roberts, expressed skepticism towards the Trump administration's legal arguments for tariffs, suggesting they may be viewed as taxes on Americans [6][7][10] - The questioning from both liberal and conservative justices indicates a potential challenge to the legality of Trump's blanket tariffs, which could impact market expectations [5][10][13] Labor Market and Federal Reserve Policy - ADP reported a surprising addition of 42,000 jobs in October, reversing a decline from September, which may influence Federal Reserve policy discussions [14] - Fed Governor Steven Myron indicated that the labor market poses a greater risk than inflation, suggesting a more cautious approach to monetary policy [15][16] AI and Technology Sector Insights - Concerns are emerging regarding AI valuations, with analysts cautious about the sustainability of current business models and potential market corrections [20][21][22] - Companies are underweight in AI-related stocks, favoring investments in European markets due to attractive valuations [23][24] Scott's Miracle Grow Performance - Scott's Miracle Grow reported a decrease in net sales but improved gross margins and market share, indicating a recovery phase [28][30] - The lawn and garden sector is described as recession-resistant, with strong consumer demand and growth in DIY projects [33][34] Qualcomm's Financial Results - Qualcomm's Q4 results showed earnings per share of $3, beating expectations, with revenue at $11.27 billion, also above estimates [54][57] - The company is diversifying into automotive and IoT markets, with a focus on AI chip development to enhance growth potential [59][66] Robinhood's Earnings Report - Robinhood's Q3 earnings showed a beat on both top and bottom lines, with significant net deposit growth, although initial stock reactions were negative due to high expectations [83][88] - The company is exploring opportunities in prediction markets, which could diversify revenue streams and enhance long-term growth potential [90][92] ARM Holdings Performance - ARM reported earnings per share of 39 cents, beating estimates, with revenue of $1.14 billion, also exceeding expectations [70][72] - The company is well-positioned in the chip industry, with strong demand for its designs across various markets, including data centers and IoT [79][80]

Stocks in some of America’s top retail brands, from department stores to toymakers and apparel companies, rallied as a skeptical US Supreme Court raised hopes the sweeping tariffs could be lifted https://t.co/AhfDCRZsDI ...

Core Viewpoint - The Supreme Court is hearing a case regarding the constitutionality of President Trump's tariffs, which are deemed critical for the U.S. economy and national security [1] Tariffs and Economic Impact - The tariffs have significantly reduced imports from China and raised hundreds of billions of dollars for the U.S. government [2][3] - The administration has alternative measures available if the Supreme Court rules against the tariffs, ensuring continued revenue generation and support for reindustrialization [3] Economic Weakness and Monetary Policy - There are acknowledged weaknesses in the economy, particularly in the housing sector, attributed to high mortgage rates and low affordability [5][6] - The Federal Reserve's restrictive monetary policy is seen as a barrier to economic growth, particularly in manufacturing [7][8] Inflation and Energy Prices - The tariffs have not led to the expected inflationary pressures, which has affected the credibility of the Federal Reserve [10][11] - Energy prices have decreased under the current administration, contributing to lower inflation expectations and potentially aiding affordability [12][13] Wage Growth and Tax Benefits - The economy is projected to experience a "blue-collar boom," with wages rising faster than inflation, contrasting with previous administrations [14] - Significant tax refunds are anticipated due to changes in tax policy, which will benefit American workers, particularly in the blue-collar sector [15]

Group 1 - The S&P 500 index rose by 0.4% following indications from the Supreme Court that it may not uphold President Trump's tariffs [1][2] - The Dow Jones Industrial Average increased by 226 points, or 0.5%, while the Nasdaq Composite gained 0.7% [1] - The market rebound occurred after a selloff in technology stocks, driven by skepticism from multiple Trump-appointed justices regarding the legality of the tariffs imposed under the International Emergency Economic Powers Act [2]

Three lower courts have ruled illegal President Donald Trump's use of emergency powers to impose worldwide tariffs. Now the Supreme Court, with three justices Trump appointed and generally favorable to muscular presidential power, will have the final word. ...

分组1 - Corporate profits for S&P 500 companies are experiencing significant growth despite an increase in effective tariff rates from 2.4% to 17.9% [1] - Third-quarter earnings-per-share (EPS) growth for S&P 500 members is projected to rise by 10.7% year over year, marking four consecutive quarters of double-digit EPS growth [3] - The S&P 500 index has increased by 16% year-to-date and 36% since its low on April 8, reaching all-time highs and raising its price-to-earnings (P/E) ratio from approximately 18 to nearly 23 [4] 分组2 - The market's recovery since April has been characterized by increased investor confidence, as noted by Goldman Sachs CEO David Solomon, who emphasizes the importance of being aware of market risks [5][6] - The S&P 500 is on track for a potential third consecutive year of returns exceeding 20%, with the Nasdaq showing even more impressive gains of over 18% in 2025 and more than 54% since the April low [7] - The upward movement in the market followed a 19% selloff from February to April, influenced by changes in tariff policies [9]

Joining me now, one of those small business owners impacted by Donald Trump's tariffs, Yaire Reiner, founder and CEO of Gowana's Kitchen Lab in Brooklyn and inventor of the Frywall Splattergard, which is manufactured in China. And you and I, Yaier, first, thanks for coming back. We spoke in April.You said then that tariffs were killing your business. How is it now. >> So, I would say that uh it has been a success.If the point was to pick my pocket as a small business owner, um the tariffs have basically bee ...