Wall Street Eagerly Awaits Supreme Court Decision Amid Mixed Market Signals

Wall Street's main indexes prepared for a higher open as investors assessed weaker-than-expected jobs data and awaited a Supreme Court ruling on Trump's tariffs. Nonfarm payrolls increased by 50,000 in December, below forecasts. Traders anticipate market volatility and potential impacts on government revenue from the court's decision.

Wall Street investors braced for a higher open on Friday amid a swirl of economic reports and looming Supreme Court deliberations on U.S. President Donald Trump's tariffs. A Labor Department report indicated nonfarm payrolls advanced by 50,000 in December, short of the anticipated 60,000.

Following the data release, traders scaled back expectations for further interest rate cuts. Market analysts observed a trend where companies retain employees longer without accelerating hiring. Additionally, anticipation builds as the U.S. Supreme Court prepares to rule on tariffs, potentially sparking significant financial market volatility.

While investors speculate on the court's decision's fallout, Treasury Secretary Scott Bessent expressed concerns over losing Trump's leverage rather than financial deficits. Meanwhile, Wall Street indices showed mixed results on Thursday, buoyed by consumer discretionary stocks despite tech stock declines, while advancements in mortgage and defense sectors hint at broader economic trends.

(With inputs from agencies.)