From Nasdaq: 2025-05-29 15:41:00

Stock indexes rose today, with S&P 500 hitting a 1-week high and Nasdaq 100 reaching a 3-month high after a court blocked some of Trump’s import tariffs. AI and chips stocks surged after Nvidia’s strong earnings. Dow Jones gains were limited by Salesforce’s 6% drop post-downgrade by RBC Capital Markets.

US Court ruled Trump’s global tariffs illegal, affecting China, Canada, and Mexico. Q1 core PCE price index revised lower, jobless claims rose, and pending home sales fell, signaling dovish Fed policy. Q1 GDP revised up slightly. Weekly initial unemployment claims rose higher than expected.

Semiconductor stocks like Nvidia and AMD rallied after strong earnings. Nordson, Elf Beauty, Veeva Systems, and Agilent saw significant gains post-earnings reports. Southwest Airlines rose after an upgrade, while Best Buy, Salesforce, HP Inc, and SentinelOne faced losses.

GE Vernova and Hormel Foods saw declines, while earnings reports included companies like Costco, Gap, and Ulta Beauty. Overseas markets showed mixed performance, with Euro Stoxx 50 down and Shanghai Composite up. T-notes initially fell but recovered after the court ruling. ECB expected to cut rates by 25 bps in June.



Read more at Nasdaq: Stocks Supported by Tariff Ruling and Nvidia Earnings