Non-farm payroll data landed smoothly: US stocks rose slightly, with the market awaiting the tariff ruling.

PANews reported on January 9th that U.S. stocks rose slightly on Friday, as the December non-farm payroll report did not change expectations that the Federal Reserve would keep interest rates unchanged. Meanwhile, traders are closely watching the Supreme Court's potential ruling on the legality of Trump's tariffs. State Street Macro Multi-Asset Strategist Cayla Seder stated, "Today's labor data suggests the labor market is more balanced than weak. This figure is strong enough to show the economy is in a decent state, but not strong enough to require a significant change in market expectations for monetary policy, which is positive for the stock market." Regarding the tariff ruling, the U.S. Supreme Court is about to rule on the legality of President Trump's comprehensive tariff policy introduced in April, which is one of the next major tests for U.S. stocks and bonds, a policy that once shook the market. If the ruling finds the tariffs unconstitutional, stocks could be boosted as profit margins are expected to improve and the burden on consumers will be reduced. At the same time, Treasury bonds may come under pressure, as such a potential stimulus policy would complicate the Fed's rate-cutting path and risk exacerbating the government's budget deficit.