Stock market today: Live updates - Discover Hidden USA

U.S. Stock futures showed limited movement Friday as investors await key economic data releases and a potentially pivotal Supreme Court ruling concerning President Donald Trump’s tariffs. The Dow Jones Industrial Average, S&P 500 and Nasdaq-100 futures all experienced modest fluctuations, signaling a cautious approach ahead of significant developments.

Economic Data on the Horizon

Traders are preparing for the release of the fourth-quarter gross domestic product (GDP) report. Economists surveyed by Dow Jones anticipate a 2.5% increase in real GDP, following a surprisingly strong 4.4% advance in the third quarter. This data will provide a crucial update on the overall health of the U.S. Economy.

Did You Know? The U.S. Economy grew by 4.4% in the third quarter of 2025, exceeding initial estimates.

Alongside GDP, the personal consumption expenditures (PCE) price index – the Federal Reserve’s preferred measure of inflation – is also scheduled for release. Expectations point to a 2.8% year-over-year increase for the headline reading and a 3% rise for the core PCE, which excludes volatile food and energy prices.

Federal Reserve Considerations

The Federal Reserve is currently navigating a complex landscape, with policymakers divided on the appropriate course of action. Some officials prioritize supporting the labour market, while others are more focused on curbing inflation, which remains above the central bank’s 2% target. Minutes from the January Fed meeting suggest a need for further evidence of cooling inflation before additional interest rate cuts are considered.

Supreme Court Tariff Ruling Expected

A Supreme Court decision regarding the legality of President Trump’s tariffs, enacted under the International Emergency Economic Powers Act, is anticipated Friday. Market participants generally believe a ruling against the tariffs would be met with a positive reaction, although there is an expectation that the White House may seek alternative avenues to reimpose them. The Supreme Court also has scheduled decision days next Tuesday and Wednesday.

Expert Insight: The potential for a Supreme Court ruling on the legality of the tariffs introduces a significant element of uncertainty into the market, with a possible positive reaction if the duties are struck down, despite expectations of potential future re-implementation.

Paul Stanley, chief investment officer of Granite Bay Wealth Management, noted that the market appears to be “treading water” awaiting these catalysts, with both the Supreme Court ruling and upcoming Nvidia earnings results potentially driving short-term market movements.

Year-to-date, the S&P 500 is essentially flat, while the Nasdaq Composite is down. This divergence suggests a broadening of market participation, which is viewed as a positive sign by some investors. On Thursday, the S&P 500 fell nearly 0.3%, the Nasdaq Composite shed 0.3%, and the Dow Jones Industrial Average lost 267 points, or 0.5%.

Geopolitical Concerns Add Pressure

Rising tensions between the U.S. And Iran, following President Trump’s indication he will decide within the next 10 days whether to launch military strikes, have also contributed to market unease. Oil prices have increased due to fears of a potential conflict.

As of Thursday, the S&P 500 is on track for a modest weekly gain of 0.4%. The Nasdaq is poised to end a five-week losing streak, currently up 0.6% for the week. The Dow is projected to experience a 0.2% loss for the period.

Frequently Asked Questions

What economic data is being released today?

The gross domestic product report for the fourth quarter and the personal consumption expenditures price index are both scheduled for release today.

What is the Federal Reserve’s current stance on interest rates?

Federal Reserve policymakers are divided, with some prioritizing the labour market and others focusing on inflation. They are seeking more evidence that inflation is cooling before considering further interest rate cuts.

What is the potential impact of the Supreme Court ruling on tariffs?

Traders generally believe the stock market will react positively if the Supreme Court rules against the legality of President Trump’s tariffs, although they anticipate the White House may attempt to reapply them through other means.

How might these various factors – economic data, the Supreme Court ruling, and geopolitical tensions – collectively shape market performance in the coming days?