By Jake Conley
Publication Date: 2026-02-22 12:47:00
Policy dominated the market’s attention this past week, culminating in Friday’s long-awaited Supreme Court decision, which struck down President Trump’s sweeping tariff regime.
On Friday, all three major indexes swung into the green on the Supreme Court ruling, and all three major indexes finished the week higher.
The S&P 500 (^GSPC) rallied to close up 0.7%, finishing the week up 1.1%, while the blue chip-heavy Dow Jones Industrial Average (^DJI) gained 0.5% on Friday to close the week up a narrow 0.3%. The tech-concentrated Nasdaq Composite (^IXIC) picked up 0.9% on Friday to return 1.3% on the week.
Oil prices (BZ=F, CL=F) ended the week up roughly 5.5%, as traders have priced in disruptions across the Middle East if the US is to strike Iran, bringing the energy product’s monthly return to around 11%.
Headlining the economic data calendar in the week ahead will be Friday’s Producer Price Index, offering investors a read on upstream input costs as inflation remains stubbornly above the Federal Reserve’s target rate of 2%.
The data comes after the latest Personal Consumption Index numbers showed that headline prices and “core” PCE, which excluded food and energy — the Fed’s preferred inflation measure — both rose by 0.4% in December over the previous month, steeper increases than those seen in November.
Investors will also get a reading on sentiment from the Conference Board on Tuesday, plus more jobs data from the weekly initial jobless…
