• Reuters

    US law firms smell opportunity as Supreme Court guts agency powers

    Law firms are capitalizing on client uncertainty sparked by a flurry of new U.S. Supreme Court rulings that favored opponents of federal agency powers, even as lawyers themselves differ on the decisions' immediate and long-term effects. Within hours of the decisions, major U.S. law firms began sending out client-focused emails and webinar invitations to discuss the cases and showcase their expertise, a marketing strategy that often follows major legal developments. Law firms known for challenging federal regulations stand to be particularly busy, but lawyers said it will take time for the new landscape to take shape.

  • Reuters

    Morning Bid: New records as jobs scanned, Tesla jumps

    Federal Reserve chair Jerome Powell managed to smooth some election-ruffled feathers in bond markets on Tuesday, helping Wall St stocks back to all-time highs as a sweep of labor market soundings are due ahead of the July 4 break. U.S. Treasuries, which had been hit earlier this week by rising bets on Donald Trump's return to the White House and the fiscal implications of his campaign promises, have calmed somewhat since Powell spoke in Portugal on Tuesday. Ten-year yields have slipped back to 4.43% from peaks close to 4.5% set on Monday - when betting markets pushed former President Trump's chances of beating incumbent Joe Biden in November to more than 60% after Biden's dire TV debate performance last week.

  • Reuters

    US Supreme Court's divisions deepened in term capped by Trump immunity ruling

    The U.S. Supreme Court's divisions deepened over its nine-month term that culminated this week with a ruling powered by its 6-3 conservative majority granting former President Donald Trump substantial criminal immunity for actions taken in office. A term during which the court constrained the U.S. government's ability to regulate industry - following recent terms when it rolled back abortion rights, expanded gun rights and rejected race-conscious collegiate admissions - laid bare ideological fractures that mirror a profoundly divided nation. Liberal Justice Sonia Sotomayor accused her conservative colleagues of embracing a dangerous expansion of presidential powers in ruling that Trump, now seeking a return to the White House, is immune from prosecution for some of his efforts to overturn his 2020 election loss, which led to the Jan. 6, 2021 U.S. Capitol attack by his supporters.