Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times during his career [1] - Jim is the owner of "Jim Wyckoff on the Markets," which provides analytical, educational, and trading advisory services [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is also a consultant for the "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2] Group 3 - Daily updates and technical analysis are provided by Jim on Kitco.com, including both AM and PM roundups [3]

Core Insights - The Supreme Court ruled 6-3 that President Trump exceeded his authority by imposing tariffs unilaterally, leading to uncertainty in global trade and impacting Wall Street [2][4][9] Group 1: Market Reactions - Major U.S. stock indexes experienced a sharp decline following the Supreme Court ruling, with the Dow Jones Industrial Average dropping 1.7% (over 800 points), and the S&P 500 and Nasdaq Composite falling by 1% and 1.1% respectively [5][9] - The ruling has reignited concerns about tariffs, which had previously been a significant overhang on the stock market, particularly in the first half of the previous year [4][9] Group 2: Tariff Implications - The Supreme Court's decision raises questions about the distribution of tariff refunds and the validity of trade deals negotiated to avoid the tariffs that were struck down [9][11] - The Trump administration is expected to pursue tariffs under more robust legal frameworks, potentially restoring rates close to previous levels, with estimates suggesting effective rates could rise to 13%-14% [11][12] Group 3: Investor Sentiment - Investors had previously been reassured by the minimal impact of tariffs on prices and profit margins, but the new uncertainty has led to a cautious outlook [5][6] - Consumer discretionary stocks, which are heavily influenced by tariffs, saw a significant drop in value following the announcement of new tariffs [13]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times during his career [1] - Jim is the owner of "Jim Wyckoff on the Markets," which provides analytical, educational, and trading advisory services [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is also a consultant for the "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2] Group 3 - Daily updates and technical analysis are provided by Jim on Kitco.com, including both AM and PM roundups [3]

Updated 12:58 p.m. EST on 2/21/2026 to reflect President Trump's decision to increase global tariffs to 15% from 10% following the Supreme Court ruling under Section 122 of the Trade Act of 1974. The much-anticipated Supreme Court decision on the legality of tariffs was issued on Friday. The high court determined that President Donald Trump overstepped his legal authority when he used the Emergency Powers Act to impose wide-ranging global tariffs, a cornerstone of his economic and policy agenda. Presiden ...

In a blow to one of President Donald Trump's signature policies, the Supreme Court struck down a significant portion of the administration's tariffs, imposed on nearly all major U.S. trading partners. On April 2 of last year, which Trump dubbed "Liberation Day," the 47th President imposed high tariffs, stunning investors and triggering a near-instant bear market. A lot has happened since that time. Trump has delayed or reversed some of the tariffs and reached trade deals with many countries. The market ha ...

NEW YORK (AP) — Wall Street kept calm Friday after the Supreme Court struck down President Donald Trump’s sweeping tariffs, which had triggered panic in financial markets when announced last year, and stocks ticked higher. The S&P 500 rose 0.7%. It had been flipping between small gains and losses before the court’s ruling, following discouraging reports showing slowing growth for the U.S. economy and faster inflation. The Dow Jones Industrial Average added 230 points, or 0.5%, and the Nasdaq composite r ...

Cryptocurrency Market Overview - Leading cryptocurrencies experienced weakness, with Bitcoin fluctuating between the high $65,000s and low $68,000s, while Ethereum remained under $2,000 with low volatility [2][3] - The global cryptocurrency market capitalization decreased by 1.91% to $2.32 trillion [4] - Over $220 million was liquidated from the market in the last 24 hours, primarily from long positions [2] Market Sentiment and Trends - Bitcoin's open interest rose by 1.31%, indicating a potential buildup of short positions and reflecting bearish sentiment in the market [3] - The Crypto Fear & Greed Index indicated an "Extreme Fear" sentiment prevailing among investors [3] Stock Market Performance - Stocks rallied sharply, with the Dow Jones Industrial Average increasing by 129.47 points (0.26%) to close at 49,662.66, and the S&P 500 rising by 0.56% to 6,881.31 [5] - Defense-related stocks saw significant gains following reports of the Trump administration moving closer to a military operation against Iran, with SPDR S&P Aerospace & Defense ETF and Global X Defense Tech ETF closing up 1.76% and 2.56%, respectively [5][6] Precious Metals Market - Precious metals remained range-bound, with spot gold trading down 0.33% at $4,961 per ounce and spot silver down 0.74% at $76.61 per ounce [6] Analyst Predictions for Bitcoin - Analysts are divided on Bitcoin's future, with some forecasting further declines to at least $51,000, while others anticipate a significant upward movement following a period of low volatility [7] - One analyst expressed intentions to buy heavily if prices dip, while planning to take profits if Bitcoin tests the $80,000-$85,000 range [8]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times during his career [1] - Jim is the owner of "Jim Wyckoff on the Markets," which provides analytical, educational, and trading advisory services [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is also a consultant for the respected "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times throughout his career [1] - Jim is the owner of the "Jim Wyckoff on the Markets" analytical, educational, and trading advisory service [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim is also a consultant for the "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2] Group 3 - Daily updates and analyses are provided by Jim on Kitco.com, including AM and PM roundups and a daily Technical Special [3]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets, including roles as a financial journalist and reporter on commodity futures trading floors in Chicago and New York [1] - He has covered every futures market traded in the U.S. at various times throughout his career [1] - Jim is the owner of "Jim Wyckoff on the Markets," which provides analytical, educational, and trading advisory services [2] Group 2 - He has worked as a technical analyst for Dow Jones Newswires and served as the senior market analyst with TraderPlanet.com [2] - Jim has also been a consultant for the "Pro Farmer" agricultural advisory service and was the head equities analyst at CapitalistEdge.com [2] - He holds a degree in journalism and economics from Iowa State University [2]