Dan Schwartzman

Meanwhile, California Governor Gavin Newsom, also seen as a potential presidential candidate in 2028, seized on the court's ruling, urging President Trump to return billions of dollars collected under the tariffs.

Newsom in a statement said it's, quote, time to pay the piper, Donald.

California was among the states that sued over the tariffs.

Wall Street reacting to the Supreme Court ruling with the Dow gaining a little under a tenth of a percent, the S&P up around four-tenths of a percent, while the Nasdaq has gained close to two-thirds of one percent.

The 10-year Treasury yield is at 4.094, the two years at 3.481.

Gold is trading above $5,070 an ounce, while Bitcoin is over $67,600.

President Trump, speaking to reporters earlier at the opening of a breakfast with governors at the White House, says he is considering limited strikes on Iran as a way to ramp up pressure on the regime to make a deal to limit its nuclear program.

The U.S.

military has been building up a massive armada in the Middle East, including two aircraft carriers, hundreds of fighter jets and refueling tankers, along with thousands of troops.

Michael O'Hanlon, military analyst at the Brookings Institute, says the buildup gives the president options.

That's Michael O'Hanlon, military analyst at the Brookings Institute.

The president has said Iran has 10 to 15 days to strike a deal over its nuclear program.

Oil prices reacting to the U.S.-Iran tensions, with oil holding near a six-month high, with West Texas Intermediate fluctuating near $66 a barrel, which would be a weekly gain of around 6%.

President Trump plans to travel to China from March 31st to April 2nd for a meeting with his counterpart Xi Jinping to navigate a trade relationship and tensions around Taiwan.

Narrowing trade deficits is expected to be a focal point of conversations, with the U.S.

's annual shortfall with China shrinking in 2025 to around $202 billion, a 21-year low that's according to Commerce Department data.

Trump also expects to welcome Xi to Washington later this year, with Xi expected to attend a meeting with a group of 20 nations in Florida.

The U.S.

economy growing less than expected at the end of last year, dragged down by a record-long government shutdown, consumer spending, and trade.

According to the government's initial estimate out Friday, inflation-adjusted gross domestic product increased at annualized 1.4% in the fourth quarter after rising 4.4% in the prior period.