U.S. stocks advanced on February 20, 2026, after the Supreme Court struck down President Donald Trump’s sweeping tariffs. The S&P 500 gained 0.7% to close at 6,909.51, while the Nasdaq composite rose 0.9% to 22,886.07.

The Dow Jones Industrial Average added 0.5%, finishing at 49,625.97, while the Russell 2000 dipped less than 0.1%. Treasury yields held steady as investors weighed the court's decision against Trump's pledge to pursue tariffs via other avenues and mixed economic data indicating slowing growth and faster inflation. For the week, the S&P 500 increased 1.1%.

Canadian equities closed higher on February 20, 2026, extending gains for a third consecutive session. The benchmark S&P/TSX Composite Index advanced, supported by broad-based sector performance.

The three-day winning streak indicates sustained investor optimism within the Canadian market. This upward trajectory builds on momentum established earlier in the week, as traders digested recent economic signals and corporate developments.

European stocks advanced on Friday, February 20, 2026, closing the trading session with gains. The positive performance reflected broad-based strength across the region's major exchanges. The upward movement marked a successful end to the week for equities.

The US economy expanded 2.2% in 2025, down from 2.8% in 2024, despite negligible payroll growth of just 181,000 positions.

This divergence, termed a "jobless expansion," stems from surging corporate investment in artificial intelligence and tighter immigration policies. AI spending contributed 0.4 percentage points to 2025 GDP, while net immigration is projected to drop to 160,000 in 2026. The unemployment rate stands at 4.3%, with consumer spending supported by stock market wealth gains rather than widespread wage growth.

Shares of Richardson Electronics, Hub Group, XPO, Corning, and Champion Homes advanced on Feb. 20, 2026, after the U.S. Supreme Court struck down Trump-era tariffs. In a 6-3 decision, the court ruled the administration improperly used the International Emergency Economic Powers Act of 1977 to justify the duties. The ruling is expected to lower costs for imported materials and equipment, potentially alleviating inflation and accelerating interest rate cuts. Corning Inc. (GLW) surged to a 52-week high of $139.76, up 54.1% year-to-date.

Cybersecurity stocks, including Rapid7, Tenable, SentinelOne, Zscaler, and Qualys, fell sharply on February 20, 2026, after Anthropic launched Claude Code Security. Investors fear the AI tool, which autonomously scans codebases and suggests patches, could replace high-margin legacy security software.

Qualys (QLYS) extended recent losses, trading at $92.18, down 40.1% from its November 2025 high. The stock has declined 29.6% year-to-date, compounding a 13.4% drop on February 6, 2026, following weak guidance. Management projected adjusted EPS of $7.31 and first-quarter sales growth of 8.5%, missing estimates and signaling a deceleration from the prior quarter's 10.1% growth.

Shares of Opendoor, Live Nation, and Funko surged on Feb. 20, 2026, after the Supreme Court struck down sweeping Trump-era tariffs, potentially reducing costs for retailers and manufacturers. The ruling provides relief from import levies, though the administration announced plans for a new 10% global tariff.

Funko, up 55.8% year-to-date, remains volatile at $5.24, trading 62.4% below its Feb. 2025 high of $13.92. The stock previously plummeted 31.4% in July 2025 after reporting Q2 revenue of $193.5 million, a 21.9% decline, and an adjusted loss per share of $0.48.

Shares of MasTec (MTZ), Expeditors International (EXPD), and Methode Electronics (MEI) surged on February 20, 2026, after the U.S. Supreme Court invalidated Trump-era tariffs. The 6-3 ruling determined the administration could not use the International Emergency Economic Powers Act of 1977 to justify the levies.

Analysts expect the decision to lower manufacturing costs for imported parts and ease broader inflation. EXPD, trading at $156.34, approached its 52-week high of $165.04 set earlier in February 2026. The stock has risen 2.9% year-to-date, recovering from a 5.5% annual sales decline and a previous Barclays downgrade.

Shares of Jabil, Coherent, and TTM Technologies advanced on February 20, 2026, after the U.S. Supreme Court struck down the Trump administration’s global tariffs. The 6-3 ruling determined the administration improperly used emergency powers to bypass Congress, lifting the S&P 500 and Dow Jones Industrial Average by eliminating levies that burdened corporate balance sheets.

TTM Technologies (TTM) reached a 52-week high of $107.95, marking a 52.9% gain since the start of 2026. The printed circuit board manufacturer, which reported 19% year-over-year sales growth in the prior quarter, continues to benefit from AI infrastructure demand. Alphabet recently projected $175 billion to $185 billion in 2026 capital expenditures, reinforcing the sector’s outlook.

The U.S. Supreme Court struck down President Trump’s blanket tariffs on February 20, 2026, but did not mandate refunds, leaving companies facing potential litigation to recover funds. The ruling upheld a 2025 decision by the Court of International Trade, yet President Trump indicated he would not issue automatic repayments, estimating a two-year legal fight.

The Penn Wharton Budget Model projects up to $175 billion in refunds at stake. Trump simultaneously announced a new 10% global tariff under Section 122. Over 1,500 companies, including Costco (COST), have preemptively sued to secure their rights to refunds, as the process remains uncertain without executive cooperation.

U.S. retailers and manufacturers surged on February 20, 2026, after the Supreme Court struck down sweeping Trump-era tariffs, offering potential relief to companies reliant on global supply chains. The S&P 500 advanced as the ruling promised to lower operating costs and improve margins, offsetting earlier concerns regarding economic growth.

Despite the market rally, the Trump administration announced plans for a new 10% global tariff. Torrid Holdings (CURV) was among the active movers, trading at $1.11, up 4.2% year-to-date but significantly below its May 2025 high of $6.46. Other notable gainers included Floor & Decor, Victoria's Secret, Shoe Carnival, and Camping World.

Manufacturing stocks, including First Solar (FSLR) and Viavi Solutions (VIAV), rallied after the U.S. Supreme Court struck down Trump-era tariffs on Feb. 20, 2026. In a 6-3 ruling, the court determined the administration improperly used the International Emergency Economic Powers Act of 1977 to justify the duties.

The decision is expected to lower costs for imported parts and materials. Viavi Solutions surged to a 52-week high of $27.76, up 52.9% year-to-date. Orion, Limbach, and Oshkosh also advanced following the ruling.

Shares of manufacturers including Enphase Energy and MYR Group surged on Feb. 20, 2026, after the U.S. Supreme Court struck down Trump-era tariffs. In a 6-3 decision, the court ruled the administration improperly used the International Emergency Economic Powers Act of 1977 to justify the duties, a move expected to lower costs for imported materials and equipment.

Economists suggest the ruling will alleviate budget pressures and ease inflation, potentially accelerating Federal Reserve rate cuts. MYR Group (MYR) hit a new 52-week high of $281.09, up 24% year-to-date. The decision provides significant relief for small and medium-sized businesses burdened by previous import costs.

Dell Technologies, Omnicom Group, and Ziff Davis shares climbed on Feb. 20, 2026, following a U.S. Supreme Court ruling that struck down the Trump administration's sweeping global tariffs.

The 6-3 decision found the administration improperly used emergency powers to bypass Congress, potentially enabling refunds for affected businesses. Ziff Davis traded at $31.42, down 7.6% year-to-date and 37% below its 52-week high of $49.89 from February 2025.

Shares of Under Armour (UAA), Caleres, PVH, Carter's, and Kontoor Brands rose on Feb. 20, 2026, after the Supreme Court struck down Trump-era tariffs. The ruling is expected to lower operating costs for manufacturers and retailers reliant on global supply chains, offsetting earlier concerns regarding slowing economic growth. However, the Trump administration announced plans to impose a new 10% global tariff.

Under Armour shares surged to a 52-week high of $8.13, up 53.6% year-to-date. The stock remains volatile, with 19 moves exceeding 5% over the last year. On Feb. 10, 2026, shares dropped 7.4% after Citigroup downgraded the stock to Sell, citing competitive pressures and weak direct-to-consumer traffic.

Shares of Angi, Bumble, Match Group, Wayfair, and Shutterstock surged on Feb. 20, 2026, after the Supreme Court struck down significant portions of President Trump's tariff agenda.

The 6-3 ruling determined the executive branch lacks constitutional authority to unilaterally impose levies without Congress, triggering a rally across major indices including the S&P 500 and Nasdaq. Investors interpreted the decision as a reduction in trade headwinds. Bumble (BMBL) traded at $3.04, remaining down 16% year-to-date and 64.5% below its 52-week high of $8.57 from July 2025.

The U.S. Supreme Court ruled on February 20, 2026, that President Donald Trump lacked authority to impose sweeping tariffs enacted last year under the International Emergency Economic Powers Act. While the decision offers legal vindication, it does not mandate refunds for the billions of dollars collected, leaving small businesses facing a prolonged battle for restitution.

President Trump announced plans to implement a 10% global tariff using the 1974 Trade Act, stating refund disputes could last five years. Treasury Secretary Scott Bessent indicated the collected revenue remains "in dispute," suggesting refunds are unlikely soon. Small businesses, including Greenbar Distillery, which invested $400,000 in automation to offset costs, face irreversible financial impacts despite the ruling.

Rising inflation likely keeps the Federal Reserve on hold despite slowing economic growth. The central bank’s preferred inflation gauge rose to 3% year-over-year in December 2025, validating the pause in rate cuts.

Real GDP grew by 1.4% in the fourth quarter of 2025, missing consensus estimates of 2.5% due to a government shutdown. Analysts predict the Fed will maintain the benchmark rate between 3.5% and 3.75% until inflation trends downward, with potential cuts expected by late 2026.

Nvidia (NVDA) reports fourth-quarter earnings this week, concluding results for the "Magnificent Seven." The release will provide a vital update on AI chip demand and Big Tech investment levels.

Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) are set to report as acquisition discussions continue. Notable earnings for the week of February 23, 2026, also include Salesforce (CRM), Home Depot (HD), and Lowe’s (LOW).

U.S. stocks closed mostly higher on February 20, 2026, after the Supreme Court ruled against proposed tariffs linked to former President Trump’s administration. The decision removed immediate uncertainty regarding trade restrictions and potential inflationary spikes.

Major indices, including the Dow Jones Industrial Average and S&P 500, gained ground, driven by rallies in trade-sensitive sectors. Investors interpreted the ruling as a positive development for corporate earnings and global supply chain stability, offsetting earlier session volatility.