The S&P 500 Rebounds to New All-Time Highs
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Here's your midday brief for Friday, June 27th. I'm Julia Carpenter for The Wall Street Journal. The S&P 500 reached a new high earlier this morning, the first since February.

The index has rebounded from the turbulent period in April when the Trump administration's trade war sent markets reeling. This could be the S&P 500's fastest recovery back to a record close after a decline of at least 15 percent, according to Dow Jones market data. The Nasdaq composite also hit a new intraday record, its first since December. American households felt more optimistic about the economy in June, though confidence remains lower than it was at the start of the year.

The University of Michigan Index of Consumer Sentiment rose to 60.7, above economists' expectations. The survey covers the period from May 27th to June 23rd, a politically tumultuous period that saw protests roil through Los Angeles, the assassination of a Minnesota lawmaker, and the onset of the Iran-Israel conflict. And the U.S. Supreme Court limited the scope of orders halting President Trump's attempt to curtail birthright citizenship.

one of President Trump's more controversial executive orders denying citizenship to children born in the U.S. except in cases in which a parent was a citizen or a permanent legal resident. The ruling narrowed the ability of judges to issue nationwide injunctions against White House policies, but it left room for the policy to be blocked by lawsuits brought by state governments.

We have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.