All three major US stock indexes were up in late-morning trading Friday after the US Supreme Court struck down President Donald Trump's worldwide tariffs.

In his opinion for the court, US Supreme Court Chief Justice John Roberts said that the International Emergency Economic Powers Act "does not authorize the President to impose tariffs."

In other geopolitical news, President Trump will travel to China from March 31 to April 2 to meet with President Xi Jinping, according to media reports.

In company news, Blue Owl Capital (OWL) said Thursday it sold $1.4 billion of loan assets in three of its private debt funds and was barring investors in one of the funds, Blue Owl Capital Corp II, from redeeming their investments in quarterly intervals. Blue Owl shares were down 2.2% around midday.

GRAIL (GRAL) said late Thursday that topline NHS-Galleri results from 142,000 UK participants show a reduction in Stage IV cancer diagnoses and increase Stage I and II detection. However, the company said the trial missed its primary reduction endpoint in Stage III and IV. GRAIL shares were down 45.6%.

Cogent Communications Holdings (CCOI) reported a Q4 net loss Friday of $0.64 per diluted share, narrowing from a loss of $0.91 a year earlier and less than the loss of $1.03 expected in a FactSet survey of analysts. Fourth-quarter service revenue was $240.5 million, down from $252.3 million a year ago and below the FactSet consensus of $243.5 million. Cogent shares were down 30.5%.

Price: 11.12, Change: -0.24, Percent Change: -2.07