A shortened, calm week was suddenly shaken on Friday as both economic data and a Supreme Court ruling on tariffs surprised the markets. Fourth Quarter GDP grew only 1.4%, well below expectations of 2.8%, driven by weaker government spending, while PCE inflation for Dec ’25 edged higher. The Supreme Court decision invalidated a large portion of existing global tariffs. In response, the administration announced a temporary additional 10% tariff under Section 122 of the Trade Act of 1974, to remain in effect for 150 days.