The stock market got a boost on Wednesday after Supreme Court justices appeared skeptical about the legality of a portion of President Donald Trump's tariffs. Certain names could get an even bigger boost if the government is forced to refund some of the tariff money, according to analysis by Wells Fargo. The Supreme Court on Wednesday heard oral arguments over the the levies placed by the administration under the International Emergency Economic Powers Act earlier this year. Justice Sonia Sotomayor told Solicitor General D. John Sauer: "You say tariffs are not taxes, but that's exactly what they are." She added: "They're generating money from American citizens, revenue." Justice Neil Gorsuch pressed Sauer on Trump placing the duties without congressional approval, citing emergencies such a
Trump may have to refund the tariffs. These stocks would benefit most
CNBC Stock Market19 hrs ago
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