U.S. Stocks Rise Despite Tariff Uncertainty
U.S. stocks saw a boost on thursday, with the S&P 500 gaining 0.4%.This uptick was largely due to Nvidia’s impressive first-quarter earnings. The tech giant’s shares soared nearly 3%, thanks to a 73% year-over-year growth in its data center business.
however, the market’s enthusiasm was somewhat dampened by confusion over President Donald Trump’s tariff policy. A federal appeals court reinstated Trump’s tariffs on the European Union,contradicting an earlier ruling by the U.S. Court of International Trade. This uncertainty has left investors on edge.
The tech-heavy Nasdaq Composite rose 0.39%, and the Dow Jones Industrial Average added 127 points, or 0.3%. Despite Salesforce’s 3.4% drop due to disappointing earnings, the overall market remained positive.
Investors are concerned about the potential impact of tariffs on inflation. Companies like Best Buy have cited tariffs as a reason for weaker forecasts.The management is expected to seek a Supreme Court pause on the tariff ruling.
Despite these challenges, all major indexes are set to end the week and month on a high note. The S&P 500 is up 6% for May, the Dow 3.5%, and the Nasdaq nearly 10%. The market now awaits Costco’s earnings and further developments on tariffs.
