Stock Market Update

[BRIEFING.COM] It was reported a short time ago that the U.S. Appeals Court granted the White House's request to temporarily reinstate the tariffs. This ruling keeps the 10% global tariff, 30% China tariff, and 25% Canada/Mexico tariffs in place. The court gave the Trump administration until June 9 to respond.

The stock market has not moved much on the news, which may suggest that it is not surprised by the ruling. Ultimately, the appeals court ruling, like the U.S. Court of International Trade's ruling, just reinforces the point that some additional uncertainty about the tariff picture has been injected into the market, sapping the conviction of buyers and sellers in today's session.

The indices are sitting gingerly on modest gains, having held to a narrow trading range during the afternoon session.

Ten of the 11 S&P 500 sectors are higher, with gains ranging from 0.1% to 0.8%. The only loser at this point is the communication services sector (-0.6%).