Monday, October 6, 2025, at the U.S. Supreme Court in Washington, DC.
Graham Sloan | Bloomberg | Getty Images
The U.S. Supreme Court heard a case Wednesday regarding the Trump administration’s “reciprocal” tariffs, with both liberal and conservative justices appearing skeptical of the legal basis for these tariffs.
Following the hearing, traders at prediction market Polymarket now believe there is only a 26% chance that President Trump’s tariffs will remain in place, down from about 50% a day earlier.
Markets rose after the hearing, with major U.S. indexes rebounding from Tuesday’s losses. Still, eliminating tariffs is not a clear win for stocks.
If the Supreme Court were to force the White House to repay billions of dollars in tariffs collected (which Wolf Research says has “little legal basis”), the U.S. government would be further mired in debt. As a result, U.S. Treasury yields may also rise, as they have already done on Wednesday, which could put pressure on stock prices.
Meanwhile, Trump could use other executive powers to reinstate tariffs, creating further unpredictability for businesses and markets.
“Uncertainty and abnormality are the two big keywords for 2025,” said Mitchell Goldberg, Head of Client First Strategy. “If the Supreme Court rules against the administration, I don’t think that’s the end of the road for tariff policy. It’s just another hurdle.”
—CNBC’s Dan Mangan and Jeff Cox contributed to this report.
What you need to know today
The U.S. Supreme Court appears skeptical about the legality of President Trump’s tariffs. In Wednesday’s hearing, the justices questioned the Trump administration’s approach to enacting the tariffs, which critics say violates Congress’ taxing power. Here’s what could happen next:
US private payrolls increased by 42,000 people in October. The figure, released by payroll firm ADP, exceeded the Dow Jones consensus estimate of 22,000 jobs.
Snap beats revenue estimates and raises guidance. The company also announced a $500 million stock buyback and a partnership with Perplexity AI to “integrate conversational search directly into Snapchat.” shares of snap Shares rose 15.5% in after-hours trading.
US stocks rose on Wednesday. tech stocks etc. AMD, broadcom and micron technology We bounced back from Tuesday’s loss and moved forward. of stox europe 600 Although it increased by 0.23%, novo nordisk The stock price fell after the company lowered its growth outlook.
(PRO) Bitcoin “whale” may be on sale. In contrast to these “whales”, we refer to wallets that hold large amounts of information. Bitcoin — Smaller companies are increasing their holdings, according to Citigroup analysts. This movement could affect the price of Bitcoin.
And finally…
Amazon CEO Andy Jassy spoke at the GeekWire Summit in Seattle on October 5, 2021.
David Ryder Bloomberg | Getty Images
Amazon turmoil: Morale shaken, Jassy looking for next big thing after mass layoffs
Andy Jassy, who took over the helm of Amazon from founder Jeff Bezos in 2021, has embarked on a major overhaul of the company’s culture in recent years, including a major pivot to in-office work and encouraging employees to do more with less.
The most notable example was last week, when Amazon announced it would lay off about 14,000 employees. Mr. Jassy has been searching for Amazon’s next opportunity, or “pillar” of growth, after e-commerce, cloud and the Prime membership program.
— Annie Palmer
