Yahoo Finance

A federal appeals court on Thursday granted the Trump administration's request for a stay of a Wednesday ruling that President Donald Trump overstepped his authority in imposing reciprocal tariffs announced on April 2 and earlier tariffs aimed at China, Mexico and Canada. The S&P 500 barely reacted to the latest Trump tariffs twist, remaining slightly higher on the session. The stay granted by the U.S. Court of Appeals for the Federal Circuit is a short-term one — while the court considers filings from both plaintiffs and the U.S. that are due by June 9.