Wall Street Wavers Amid Tariff Uncertainty

Wall Street showed fluctuations as profit reports from companies like Gap and Ulta Beauty suggested mixed outcomes amid uncertainty over President Trump's tariffs. The market's stability hangs on court rulings and potential future tariffs, impacting company profits and economic conditions both domestically and globally.

Wall Street experienced a dip on Friday after mixed earnings reports from companies like Gap and Ulta Beauty, highlighting the unsettling impact of President Trump's fluctuating tariff policies. Despite strong profits, companies face potential hits to their bottom lines due to $300 million in additional costs.

Earlier optimism on Wall Street faded as uncertainty reinforced investor concerns about a recession, even after a U.S. court blocked some of Trump's tariffs. The S&P 500 remained on course for a positive month, yet the unresolved tariff situation continued to grasp market confidence.

In corporate performances, Ulta Beauty and Red Robin showed gains, contrasting with Gap and American Eagle Outfitters' downturns due to economic unpredictability. Meanwhile, the Federal Reserve's interest rates stayed consistent, as it awaits clear impacts of tariffs on inflation.

(With inputs from agencies.)