How does the Supreme Court tariffs ruling affect SPY stock today?

It lowers the risk of a blanket tariff shock, which can support dips and reduce volatility. We expect traders to reward quality balance sheets and steady cash flows within the index. SPY stock should benefit from a clearer rulebook, but momentum remains mixed, so stagger entries and keep risk controls.

Could a future president still raise tariffs despite this ruling?

Yes, but not via broad IEEPA-based tariffs as easily. A future administration might try other statutes, which could face court tests or require Congress. That keeps trade policy risk on the radar. Investors should track legislative moves, legal challenges, and company guidance on sourcing and pricing power.

Which sectors in SPY gain most from reduced trade policy risk?

Mega-cap tech, software, and brand-driven consumer names tend to gain, since they rely less on imported inputs or can pass on costs. Retailers and industrials that import parts also benefit. Energy and materials react more to global growth and commodities, so tariff changes are a secondary driver for them.

What S&P 500 technical levels should I watch now?

We watch the Bollinger middle near 6913 as a pivot and the lower band around 6805 as potential support. A move above 7019 could attract momentum buyers. With RSI near 52 and ADX below 20, the trend is weak, so news flow and earnings likely drive near-term direction for SPY stock.

Global Market Insights

^GSPC Today, February 21: Tariff Ruling Cuts Trade Shock Risk

ByDanny Kontos February 22, 2026February 22, 2026

SPY stock is front and center today after a 6-3 Supreme Court tariffs ruling curbed use of IEEPA for broad import levies. The decision reduces near-term trade policy risk for S&P 500 exposure, while shifting more power to Congress on taxes. Markets may welcome fewer surprise tariffs, yet uncertainty remains as alternative statutes could still be tested. We break down what it means for price action, sectors, and the S&P 500 outlook, plus the levels and tactics we are watching now.