What Happened?
A number of stocks jumped in the afternoon session after the U.S. Supreme Court struck down tariffs imposed by the Trump administration, a move expected to lower costs for manufacturers.
In a 6-3 decision, the court ruled that the administration's use of the International Emergency Economic Powers Act of 1977 to justify the tariffs was not applicable. The removal of these tariffs is expected to reduce the cost of imported parts, materials, and equipment, which are crucial inputs for many U.S.-based manufacturing companies. Economists suggest this will alleviate budget pressures on these firms and could also reduce broader inflation concerns, potentially paving the way for accelerated interest rate cuts by the central bank. The ruling is seen as particularly beneficial for small and medium-sized businesses, which have shouldered much of the financial burden from the import duties.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Renewable Energy company Enphase (NASDAQ: ENPH) jumped 3.5%. Is now the time to buy Enphase? Access our full analysis report here, it’s free.
- Ground Transportation company Saia (NASDAQ: SAIA) jumped 3.8%. Is now the time to buy Saia? Access our full analysis report here, it’s free.
- Construction and Maintenance Services company MYR Group (NASDAQ: MYRG) jumped 4.3%. Is now the time to buy MYR Group? Access our full analysis report here, it’s free.
- Ground Transportation company Old Dominion Freight Line (NASDAQ: ODFL) jumped 2.8%. Is now the time to buy Old Dominion Freight Line? Access our full analysis report here, it’s free.
- Renewable Energy company Shoals (NASDAQ: SHLS) jumped 3.1%. Is now the time to buy Shoals? Access our full analysis report here, it’s free.
Zooming In On MYR Group (MYRG)
MYR Group’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 6.3% on the news that the broader market rebounded from a tech-driven sell-off, with investors taking the opportunity to buy stocks at lower prices.
This rally was fueled by a recovery in technology stocks and a significant bounce in Bitcoin, which stabilized after losing over half its value from its October peak. Investor sentiment was also lifted by a surprising improvement in U.S. consumer sentiment and the realization that massive AI-related capital expenditure, such as Amazon's planned $200 billion, directly benefits chipmakers like Nvidia and Broadcom. These "pick-and-shovel" winners jumped as much as 7%, helping the S&P 500 edge back into positive territory for 2026. The highlight of the day was the Dow Jones Industrial Average, which surged and crossed the historic 50,000 threshold for the first time.
MYR Group is up 24% since the beginning of the year, and at $281.09 per share, has set a new 52-week high. Investors who bought $1,000 worth of MYR Group’s shares 5 years ago would now be looking at an investment worth $4,660.
The 1999 book Gorilla Game predicted Microsoft and Apple would dominate tech before it happened. Its thesis? Identify the platform winners early. Today, enterprise software companies embedding generative AI are becoming the new gorillas. Click here for access to our special report that reveals one profitable leader already riding this wave, it’s free.
