From Nasdaq: 2025-05-29 15:37:00

Stock indexes are up today, with S&P 500 hitting a 1-week high and Nasdaq 100 reaching a 3-month high. Stocks rise after court ruling blocked some of Trump’s import tariffs. AI and chips stocks surge after Nvidia’s strong earnings and CEO’s positive outlook on AI market growth.

US stock markets rally after court ruling deems Trump’s global tariffs illegal. Weekly jobless claims rise, core PCE price index revised lower, pushing T-note yields down. 10-year T-note yield at 4.452%. Q1 GDP revised to -0.2%, core PCE price index at +3.4%.

Chances for a -25 bp rate cut at FOMC meeting at 2%. Markets focus on tariff news and trade deals. Pending home sales expected to fall, personal spending and income to rise. Earnings season shows 77% of S&P 500 companies beat estimates, earnings growth at +13.1%.

Overseas markets are up, Euro Stoxx 50 +0.29%, Shanghai Composite +0.70%, Nikkei Stock 225 +1.88%. T-notes recover from early losses, 10-year T-note yield at 4.452%. Treasury to auction $44 billion of 7-year T-notes. European government bond yields lower.

Semiconductor stocks rally, led by Nvidia’s +5% jump. Nordson up +9%, Elf Beauty +26%, Veeva Systems +18%, Agilent +4%, Synopsys +2%. HP Inc down -8%, SentinelOne down -13%, Best Buy down -7%, Salesforce Inc down -5%, Hormel Foods down -2%. Earnings reports scheduled for 5/29/2025.



Read more at Nasdaq: Stocks Climb on Tariff Ruling and Nvidia Earnings