🚨 Friday's ruling by the Supreme Court on the legality of US tariffs could have a sharp but short-lived impact on stocks, bonds and even gold. I've read several simplified scenario analysis to the consequences of the ruling, but if you're day trading then you must be aware of the legal nuances the Trump administration can adopt. A ruling against the tariffs likely boost stocks by removing the burden on companies to "eat" the tariffs or to "absorb" any increase to the retail price. Consumers stocks will also likely gain. But there are other points worth noting. See below the image for more details.