The U.S. Supreme Court has taken new action again. According to the latest signals, the Supreme Court may issue an opinion around 10 a.m. Eastern Time on Wednesday, this time concerning the global reciprocal tariff policy implemented by the Trump administration. The market is starting to stir again.

Speaking of which, last Friday the market also had similar expectations. But what happened? By January 9th, the Supreme Court directly stated that it would not make a ruling on the global reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA) that day. The market was a bit confused.

The key point here is—what might it mean that Chief Justice John Roberts and his colleagues repeatedly delay the decision? The court’s stance may be quietly changing. Analysts have picked up on the signs. Evercore ISI’s view is quite interesting: if the ruling is delayed until after late February, the seemingly unfavorable situation for Trump could reverse. Every week of delay increases the probability of the Trump administration winning a case by one point. Although currently institutions like Evercore ISI still maintain that Trump might lose, they also warn the market to watch this indicator.

How significant will this ruling be to the market? Strategists are divided. Some worry that canceling tariffs could create uncertainty and drag down stock performance; others argue it could stimulate economic growth. There’s also a more dire scenario—the court ruling that tariffs are illegal and demanding refunds, which could impact the U.S. Treasury. Trump has already hinted on social media that this could involve “hundreds of billions of dollars” in compensation, which he describes as “total chaos.”

The key now is when the Supreme Court will finally make a decision. Analysts like Sarah Bianchi from Evercore ISI believe that since the court is aware of the importance of this case, it should decide quickly. But if no ruling is made by the end of February, that could be a positive signal for Trump and tariff supporters.