Markets ticked higher as the S&P 500 closed up 0.4% after dip buyers stepped in following yesterday’s slide. The biggest drivers were a Supreme Court hearing that could strip away broad presidential tariff powers, a sharp selloff in Pinterest (NYSE:PINS) after a weak ad forecast, and McDonald’s (NYSE:MCD) new $5 value push that signals growing pressure on low‑income consumers. In the short term traders bought the dip and rotated into defensive names. Over the longer term a ruling limiting tariff authority would ease cost uncertainty for global supply chains and U.S. retailers, while persistent consumer trade‑downs could reshape quick‑service restaurant competition.

Market snapshot and session flow

The S&P 500 rose 0.4% as buyers took advantage of lower prices from the previous day. Equity trading reflected a mix of headline reaction and pocketed-profit rotation. Tech saw selective strength, but the session was dominated by headline risk tied to trade policy and several company-specific moves that drove sector dispersion.

Prediction markets moved during the session as oral arguments played out at the Supreme Court. Odds that the Court would uphold the contested tariffs fell to roughly 27% late in the day from higher levels before hearings began. That swing in expectations helped lift stocks that trade on cross-border supply chains and gave retailers a modest relief bid.

Supreme Court hearing on tariffs and market implications

The Supreme Court heard a challenge to a raft of tariffs imposed under an emergency statute. Several conservative justices, including Chief Justice John Roberts and Justice Amy Coney Barrett, signaled skepticism that the president has unlimited authority to impose wide-reaching levies. The Court’s questions focused on whether Congress really delegated such sweeping power and whether those actions fall under the major questions doctrine that has constrained executive reach in other cases.

If the Court narrows or overturns the authority behind these tariffs, companies that had been absorbing or passing through tariff costs would see a reduction in a key source of input-price uncertainty. That outcome matters now because many firms had already cited tariff pressure in recent guidance. For markets the immediate effect was a lift to stocks sensitive to import costs. Over time a ruling against the administration’s broad tariff claims would reduce a tail risk that has hung over multinational earnings and supply chain planning for more than a year.

Consumer signal: McDonald’s price move and Pinterest’s ad hit

McDonald’s (NYSE:MCD) announced it will subsidize part of its $5 Extra Value Meals with U.S. franchisees through early 2026 in an effort to win back cash‑strapped diners. The company reported that traffic from lower‑income customers fell roughly 8% in the third quarter while visits from higher‑income diners rose about 8%. U.S. comparable sales climbed 2.4% in the latest quarter, suggesting the promotion is producing measurable traffic and sales lift.

That tactical pricing move shows how quick‑service operators are responding to trade‑down behavior among budget consumers. In the short term the promotion boosted McDonald’s results. In the longer term it highlights a bifurcation in consumer behavior that could favor value‑oriented chains and weigh on higher‑priced fast casual brands.

Meanwhile Pinterest (NYSE:PINS) plunged about 21.8% after the company issued a disappointing fourth‑quarter revenue forecast and said its digital ad business had been hit by tariff‑related weakness among major U.S. retailers. The stock move underlines how details on ad demand and retailer health can quickly alter sentiment for platform names that depend on retail ad spend.

Corporate headlines that shaped investor attention

Other corporate developments added texture to the session. The U.S. agreed to an $80 billion commitment to help build Westinghouse facilities and could end up owning roughly 8% of Westinghouse if the company goes public. The owners include Cameco (NYSE:CCJ) and Brookfield Asset Management (NYSE:BAM). That deal links government industrial policy to market outcomes in energy and infrastructure and kept risk appetite for related stocks in focus.

Labor risk resurfaced as unionized baristas at Starbucks (NASDAQ:SBUX) authorized an open‑ended strike authorization ahead of the holiday season. That vote adds operational uncertainty for a major retail operator during a peak revenue period and was a factor investors considered when weighing consumer‑focused names.

Retail innovation headlines also moved conversations. Amazon (NASDAQ:AMZN) is testing a robotics‑powered store‑within‑a‑store concept at a Whole Foods location near Philadelphia. Ikea announced a store‑within‑a‑store kitchen and laundry planning studio inside certain Best Buy (NYSE:BBY) locations. These experiments reflect growing retailer efforts to accelerate in‑store technology and services that could change margins and capex profiles over time.

Regulatory and media disputes that affect digital platforms

The Motion Picture Association sent a cease‑and‑desist letter to Meta (NASDAQ:META) over Instagram’s use of the phrase that content is guided by PG‑13 ratings. The MPA said the statement was misleading because its ratings system is based on a parent committee and not algorithmic moderation. Meta responded that it never claimed an official PG‑13 rating and that its labels are only guided by MPA standards. The dispute matters now as platforms roll out more content labels and moderation frameworks and as regulators and rights holders push back on how those systems are represented to users.

Conclusion and near‑term indicators

Today’s session combined headline reaction, targeted weakness in advertising and retail‑sensitive names, and defensive buying into a modest overall market gain. Short‑term movers were driven by legal and corporate developments that are topical and actionable for traders. Over the next few sessions investors will likely watch Supreme Court commentary for any sign of a near‑term ruling, monitor consumer spending signals tied to discounting strategies, and track labor and retail experiments that could influence sales in the holiday quarter.

This market update is for informational purposes only and does not constitute investment advice. It reflects reporting and corporate announcements from the most recently concluded trading session.