Morning Business Report: Supreme Court questions legality of tariffs as shutdown drags on

Supreme Court justices pressed tough questions this week about the legality of President Donald Trump’s tariffs.

(LILAMAX)- Supreme Court justices pressed tough questions this week about the legality of President Donald Trump’s tariffs. Investors reacted quickly, betting the high court might scale them back.

Automaker stocks and other companies with major overseas operations climbed on optimism that the tariffs could be partially overturned.

Meanwhile, unionized Starbucks baristas have voted to authorize an open-ended strike. The work stoppage would target the company’s upcoming “Red Cup Day” — one of Starbucks’ biggest annual sales events — on November 13th. The union is pushing for improved hours, higher wages, and the resolution of hundreds of unfair labor practice claims against the company.

Stocks overall rebounded Wednesday after the previous day’s sell-off. Analysts say a Supreme Court ruling against Trump’s tariffs could act as “rocket fuel” for markets.

The U.S. government shutdown has now become the longest in history, with economists estimating it’s costing the economy roughly $15 billion per week. The Transportation Secretary also announced that 10 percent of flights will be cut nationwide due to staffing shortages from the shutdown — a move that sent airline stocks lower.

A new survey from Talker Research, conducted on behalf of Josh Cellars, found that more than three-quarters of Americans aged 21–44 plan to drink the same amount or more this holiday season. The findings challenge assumptions that young adults are drinking less and indicate that alcohol remains a centerpiece of holiday socializing.