04:02 PM EDT, 09/02/2025 (MT Newswires) -- US benchmark equity indexes ended lower on Tuesday as investors considered the impacts of a federal appeals court ruling on Friday declaring the majority of Trump's global tariffs unlawful.

* On Friday, a ruling by a federal appeals court struck down most of Trump's global tariffs, with the US Court of Appeals for the Federal Circuit deciding 7-4 that only Congress can impose such broad levies. Trump criticized the decision as "highly partisan" and reportedly said he plans to appeal to the US Supreme Court.

* The Institute for Supply Management's US manufacturing index increased to 48.7 in August from 48 in July, falling short of the 49 that analysts surveyed by Bloomberg had expected, and remained below the breakeven level of 50 for the sixth consecutive month, according to a Jefferies note.

* The S&P Global US manufacturing index for August was revised down to 53 from the initial flash reading of 53.3, falling short of Bloomberg's survey expectations, which anticipated no change.

* October West Texas Intermediate crude oil rose $1.63 to settle at $65.64 per barrel, while November Brent crude, the global benchmark, was last seen up $1.00 to $69.15.

* Biogen (BIIB) and Stoke Therapeutics ( STOK ) reported phase 1/2a and open-label extension study data indicating that zorevunersen may become the first disease-modifying treatment for Dravet syndrome, sending Biogen shares up by about 4.8%.

* Kraft Heinz ( KHC ) shares were down nearly 7.3% after the company said its board approved a plan to separate the company into two publicly traded entities via a tax-free spin-off.