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February 23, 2026   |   Read Online Not a fan of Fred? Unsubscribe here.   Supreme Court strikes down emergency tariffs What it means for markets February 23, 2026 MorningBullets is the fastest way to catch up on the market and political news that matter most to your money. Quick takes, sharp insight, and curated opportunities—served fresh every weekday morning. Sponsored Content 3 "Strong Buy" Stocks Under $10 Most investors think stocks under $10 are junk. Meanwhile, institutional analysts are quietly slapping "Strong Buy" ratings on three specific companies trading around $5. These aren't pump-and-dumps. They are real businesses with massive revenue figures: The Fintech: Handling $270M+ quarterly revenue across 190 countries. The Biotech: Flagship product posted 92% YoY sales growth. The Super-App: Generated $873M in revenue in Q3 alone. Get the Free Report on These 3 Stocks » By clicking this link you agree to receive emails from us and our affiliates. You can opt out at any time. - Privacy Policy The Supreme Court's recent decision removes the heavy tariffs blocking global trade. Good Morning, Stock index futures are sliding today after the Supreme Court struck down most of the president's emergency tariffs, injecting fresh uncertainty into global trade. We break down what this landmark ruling means for corporate earnings, why it shifts leverage toward China ahead of the April summit, and how markets are handling the news. If you hold broad market index funds or watch the retail sector closely, this is the one to read. Supply chain finance surges to $62B on AI and ESG tailwinds, retail investors flex growing market influence with $5.4T in trading activity, and gold struggles to hold its safe-haven shine despite geopolitical tensions. Don't forget to voice your opinion in my polls below. Here are your Morning Bullets. – Truly yours, Fred Frost 📉 Yesterday's Market Recap Yesterday, markets stumbled as the Supreme Court struck down a chunk of Trump's tariff program, sparking uncertainty despite a late-week rebound in tech. Futures for the Dow, S&P 500, and Nasdaq dipped 0.2%-0.9% overnight, while bitcoin took a 5% hit below $65,000. It's a classic case of policy shock meeting investor nerves—let's unpack the key drivers. Supreme Court Tariff Ruling: A 6-3 decision invalidated Trump's emergency tariffs, leading to a 0.7% drop in Dow futures as investors brace for alternative trade barriers. → CNBC Tech Sector Resilience: Despite broader market declines, Amazon surged 5.6% on news of Pershing Square's increased stake, signaling AI infrastructure bets still have legs. → MarketWatch Private Credit Concerns: Blue Owl Capital's withdrawal restrictions shook private debt markets, dragging Ares Management down 8% and raising questions about credit stability. → ABC News 📉 Daily Performance Snapshot Index/Asset Closing Value Change S&P 500 6,845.13 −0.53% Nasdaq 22,645.62 −0.47% Dow Jones 49,305.14 −0.72% Gold $5,150.99 +0.93% Crude Oil ~$66.70 +0.22% Bitcoin ~$67,400 +1.7% 10-yr Treasury Yield 4.07% −0.02% 🔭 What to Watch Today Today's calendar brings pivotal events that could sway markets—from Trump's State of the Union pitch to ongoing fallout from tariff rulings. Keep your eyes on these developments for signals on trade policy and economic sentiment. Trump's State of the Union (8 PM ET): President Trump's address is expected to push tax cuts and reshoring plans as a midterm pitch, though low approval on economy (39%) could dampen impact. → AP News Northeast Blizzard Impact: With over 5,000 flights canceled and 400,000 power outages, monitor disruptions to logistics and retail as the storm continues through Tuesday. → Fortune Novo Nordisk Fallout: After a 13% premarket drop on failed drug trial results, watch for broader implications in the pharma sector as investor confidence wavers. → Benzinga 💡 Opportunity Watch Amidst market turbulence, a few bright spots emerge for those with a sharp eye. These opportunities—tied to AI growth and sector-specific wins—could offer upside if you're positioned right. Let's explore. DBS-Granite AI IPO Fund: A $110 million fund targeting late-stage AI startups offers high-net-worth investors a play on Southeast Asia's tech boom—alpha returns in sight. → Fortune Analog Semiconductors for AI: As AI data centers ramp up, analog chip demand could lift overlooked stocks emerging from a cyclical downturn—worth a second look. → MarketWatch Halliburton Indonesia Deal: A new MOU with PT Pertamina to revive aging oil fields signals potential growth in energy services as national production goals rise. → Benzinga Sponsored Content Free Book: Your Crypto Blueprint for Right Now Crypto is beaten down—and that's often when opportunity forms. While fear is high, major institutions keep building. Get the free book that lays out a beginner-friendly blueprint for buying crypto intelligently and positioning for the next rally. How to start with as little as $50 Coins "smart money" is watching now A simple formula for buying at low prices Steps to help make your crypto more secure Claim Your Free Book By clicking the link above you agree to receive periodic updates from our sponsor. 🔥 The Big Bullet Supreme Court Strikes Down Emergency Tariffs What happened: The U.S. Supreme Court recently made a major ruling that affects the economy. They decided to strike down most of the president's emergency tariffs. This decision removes the sweeping taxes that were placed on goods coming from other countries. Right after the news broke, the stock market reacted quickly. U.S. stock futures fell, and the Dow Jones and S&P 500 both saw drops before the market opened. Bitcoin and other digital assets also traded in the red following the announcement. However, some Asian markets actually traded higher on the news. Even though there is new uncertainty, the overall markets have managed to stay relatively calm. Investors are now trying to figure out what this means for global trade. Why it matters: Tariffs are taxes on imported goods that usually increase costs for businesses and shoppers. When these tariffs were removed, it changed the financial outlook for many large companies. Retailers were getting ready to report their earnings with these extra costs in mind. Now, the focus will shift to tariff costs and potential refunds. The ruling also changes the power dynamic between the United States and other nations. China has been asking the U.S. to stop imposing these one-sided taxes for a long time. This Supreme Court decision invalidating the tariffs gives China more leverage ahead of a high-stakes leaders summit in April. For retail investors, this means the rules of international trade might shift again soon. Understanding these changes helps investors protect their money. What's next: The market is still processing this big change, and investors are waiting for more details. We need to watch how the government responds to the court's decision in the coming weeks. The Secretary of the Treasury recently spoke about the future of trade deals and lost tariff revenue. His comments will help guide expectations for new economic policies. We will also see how companies adjust their prices now that the extra import taxes are gone. Additionally, there are still five key takeaways from this landmark decision that will play out over time. Global supply chains might start to shift back to their old patterns. Shoppers could see lower prices on imported goods if companies pass the savings along. For now, it is best to stay patient and watch the data closely. How tariffs are paid by importing companies during the customs process, meaning individual shoppers do not pay them directly, making direct consumer refunds highly unlikely – The Washington Post This analysis by the Council on Foreign Relations explores the alternative legal pathways the Trump administration might use to bypass the Supreme Court's ruling. It breaks down other trade authorities delegated by Congress, such as Section 122 of the Trade Act of 1974, which allows the president to impose temporary tariffs of up to 15% for 150 days to address balance-of-payments deficits. – CFR.org How the removal of the International Emergency Economic Powers Act (IEEPA) tariffs could spell financial relief and resolve supply chain uncertainties for business owners, some of whom had even halted overseas shipments while awaiting the court's decision. – CBS Reader Feedback Last time, I asked you: What do you think is really driving stocks higher right now? The majority of you at 73% said "AI hype and big tech momentum" Ryan from Florida replied: "I think stocks are going up mostly because people are excited about AI and big tech companies." Here's what I'm asking you today: Do you think the Supreme Court was right to kill the new tariffs? Yes, because tariffs are just a hidden tax on us. No, because now China gets the upper hand again. It doesn't matter, big companies will keep prices high anyway. Unsure / No opinion. Other As always if your opinion is not here, or you want to throw your two cents at me, reply to the E-mail, and let me know your exact thoughts. 🧭 Policy & Market Ripples Supply Chain Finance Boom: Global SCF market hits $62 billion in 2026, driven by AI and ESG integration—DBS and Standard Chartered lead with innovative platforms. → Global Finance Magazine Retail Investor Power Surge: Retail traders hit $5.4 trillion in 2025 activity, outperforming S&P 500 trackers and reshaping market dynamics with 'buy the dip' moves. → ABC News Gold Losing Safe-Haven Status: Despite U.S.-Iran tensions, gold struggles above $5,000/oz, down 4.9% from January highs—momentum play over hedge? → MarketWatch 📜 This Day in History – February 23 February 23 is a snapshot of institutional momentum — patents that set foundations, libraries that democratize knowledge, tech breakthroughs that redefine computation, and entertainment formats that reshape global culture. 1941 – The first U.S. patent for producing pure silicon was granted, laying a foundational step for the semiconductor age and eventually the entire digital economy. 1894 – The Free Library of Philadelphia was chartered, scaling public access to books and signaling a national shift toward publicly funded knowledge infrastructure. 1994 – IBM announced the Simon Personal Communicator, the device widely regarded as the first smartphone and a precursor to mobile computing's trillion-dollar ecosystem. 1967 – *The Flintstones* aired its final original episode, demonstrating how animated sitcoms could sustain multi-year primetime runs and become durable syndication assets. Today's Trivia Which of the following best describes compound growth? A) Growth that occurs only once per year B) Growth that depends solely on government policy C) Growth that adds the same fixed amount each period D) Growth that builds on both the original amount and previously accumulated gains 78% of you chose the right answer to our previous trivia question: Which of the following would most likely increase inflation in the short term? Formal education will make you a living; self-education will make you a fortune. – Jim Rohn Thanks for Reading. Stay Sharp. Stay Focused. Fredrick Frost Editor, MorningBullets   Update your email preferences or unsubscribe here © 2026 Morning Bullets 20 North Orange Ave. Floor 11 Orlando, Florida 32801, United States Terms of Service