The Supreme Court’s decision represents a significant legal setback for the administration’s signature trade agenda. However, the immediate market impact was tempered after the President vowed to implement a 10% global tariff via an alternative regulatory mechanism. This shift in strategy provided a degree of certainty for European automakers, including BMW Group and Volkswagen, which saw minor gains after being heavily impacted by previous trade barriers.

Corporate Earnings and Economic Growth

Industrial gas leader Air Liquide contributed to the sector's upward trend, reporting earnings growth for 2025. The company cited strong momentum and increased revenue within its gas and services divisions as primary drivers of its performance, according to the latest financial disclosures.

On the macroeconomic front, the Commerce Department reported that U.S. gross domestic product grew at a 1.4% annual rate in the fourth quarter. The data indicates that while the economy continued to expand, the pace of growth was weighed down by the effects of a federal government shutdown during the period.