A number of stocks jumped in the afternoon session after the U.S. Supreme Court struck down the Trump administration’s sweeping global tariffs.
The landmark 6-3 decision sent a wave of relief through the markets, with the S&P 500 and Dow Jones Industrial Average both climbing on the news. The court found that the administration inappropriately used emergency powers to bypass Congress in imposing the levies. These tariffs had placed a significant strain on corporate balance sheets, and many businesses now welcome the prospect of potential refunds.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
TTM Technologies’s shares are extremely volatile and have had 42 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 7.3% on the news that reports suggested the company could be a major winner from Alphabet’s expanded spending plans for artificial intelligence (AI) infrastructure.
Alphabet, Google’s parent company, announced it planned to spend between $175 billion and $185 billion in 2026, which almost doubled its prior spending on AI systems. TTM Technologies manufactures advanced printed circuit boards, which are essential components for AI infrastructure. The news came after the company reported strong fourth-quarter results, with sales growing 19% compared to the previous year. This growth was driven by solid demand from data center and networking customers who are building out systems for generative AI.