{"id":49530,"date":"2025-05-29T04:02:10","date_gmt":"2025-05-29T09:02:10","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/"},"modified":"2025-05-29T04:02:10","modified_gmt":"2025-05-29T09:02:10","slug":"stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/","title":{"rendered":"Stock Market Today: Markets Surge as Court Blocks Trump Tariffs and Nvidia Impresses"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Major_Indexes_Rally_on_Tariff_Ruling_and_Strong_Tech_Earnings\" >Major Indexes Rally on Tariff Ruling and Strong Tech Earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Nvidia_Earnings_Exceed_Expectations_Boosting_Tech_Sector\" >Nvidia Earnings Exceed Expectations, Boosting Tech Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Market_Performance_and_Outlook\" >Market Performance and Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Key_Earnings_Releases_Today\" >Key Earnings Releases Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Impact_of_Court_Ruling_on_Trumps_Tariffs\" >Impact of Court Ruling on Trump&#8217;s Tariffs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Nvidias_China_Challenges_and_Future_Outlook\" >Nvidia&#8217;s China Challenges and Future Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-surge-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49530\/#Looking_Ahead_Economic_Data_and_Fed_Speakers\" >Looking Ahead: Economic Data and Fed Speakers<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Rally_on_Tariff_Ruling_and_Strong_Tech_Earnings\"><\/span>Major Indexes Rally on Tariff Ruling and Strong Tech Earnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>U.S. stock markets are experiencing a significant rally on Thursday, May 29, 2025, following a federal court ruling that blocked President Donald Trump&#8217;s &#8220;reciprocal&#8221; tariffs and strong earnings from AI chipmaker Nvidia. As of early trading, futures tied to the <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> rose 1.69%, while Nasdaq 100 futures gained 2.08%. Dow futures climbed 550 points, or 1.31%.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>The U.S. Court of International Trade ruled Wednesday night that President Trump overstepped his authority when he imposed his &#8220;reciprocal&#8221; tariffs, ordering that the challenged tariff orders be vacated. This decision has significantly alleviated investor concerns about trade policy uncertainty that had been weighing on markets in recent weeks.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nvidia_Earnings_Exceed_Expectations_Boosting_Tech_Sector\"><\/span>Nvidia Earnings Exceed Expectations, Boosting Tech Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>) shares jumped more than 5% in after-hours trading following its impressive first-quarter fiscal 2026 results released yesterday. The AI and graphics chip giant reported revenue of $44.1 billion, up 12% from the previous quarter and up 69% from a year ago, beating analyst expectations of $43.2 billion.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>Despite facing significant headwinds from U.S. export restrictions on China chip sales, Nvidia&#8217;s data center segment\u2014the heart of its AI business\u2014posted revenue of $39.1 billion, up 10% from the previous quarter and up 73% from a year ago.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>CEO Jensen Huang highlighted the company&#8217;s Blackwell AI supercomputer, stating: &#8220;Global demand for Nvidia&#8217;s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate.&#8221;<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_and_Outlook\"><\/span>Market Performance and Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Major U.S. indexes are on track to close both the week and month higher. The S&#038;P 500 and 30-stock Dow are up 1.5% and 1.2% this week, respectively, while the Nasdaq has rallied nearly 2%. For the month of May, the S&#038;P 500 has gained 5.7%, the Dow has added 3.5%, and the Nasdaq has jumped an impressive 9.5%.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>The tech sector has been particularly strong, surging more than 10% in May, fueled by AI announcements from Big Tech players like Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>).<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Earnings_Releases_Today\"><\/span>Key Earnings Releases Today<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several major companies are scheduled to release their quarterly earnings reports today, which could further impact market movements:<\/p>\n<p>&#8211; Costco Wholesale (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=COST\">COST<\/a>) will report its Q3 2025 earnings after market close<br \/>&#8211; Dell Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DELL\">DELL<\/a>) will release Q1 2026 earnings after market close<br \/>&#8211; Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>) will announce Q1 2026 earnings after market close<br \/>&#8211; Best Buy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BBY\">BBY<\/a>) will report Q1 2026 earnings before market open<br \/>&#8211; Li Auto (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LI\">LI<\/a>) will release Q1 2025 earnings before market open<br \/>&#8211; Gap Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GAP\">GAP<\/a>) will announce Q1 2025 earnings after market close<cscitation citation_id=\"task_2__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Impact_of_Court_Ruling_on_Trumps_Tariffs\"><\/span>Impact of Court Ruling on Trump&#8217;s Tariffs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The federal court&#8217;s decision to block President Trump&#8217;s tariffs represents a significant development for markets that have been rattled by trade policy uncertainty. The April 2 announcement of Trump&#8217;s duties and his constantly changing approach toward trade policy had fueled inflation fears and market volatility.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>The judges wrote in their decision: &#8220;The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by [the International Emergency Economic Powers Act] to regulate importation by means of tariffs.&#8221; They ordered that the challenged tariff orders &#8220;will be vacated and their operation permanently enjoined.&#8221;<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>White House spokesperson Kush Desai pushed back on the ruling, noting that trade deficits &#8220;have created a national emergency that has decimated American communities&#8221; and stating that &#8220;it is not for unelected judges to decide how to properly address a national emergency.&#8221;<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nvidias_China_Challenges_and_Future_Outlook\"><\/span>Nvidia&#8217;s China Challenges and Future Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While Nvidia&#8217;s earnings impressed overall, the company did highlight significant challenges related to U.S. export restrictions on its China business. On April 9, 2025, Nvidia was informed by the U.S. government that a license is required for exports of its H20 products into the China market.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>As a result, Nvidia incurred a $4.5 billion charge in the first quarter associated with H20 excess inventory and purchase obligations. The company was unable to ship an additional $2.5 billion of H20 revenue in the first quarter and expects an $8 billion loss in H20 revenue in the second quarter due to these export control limitations.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<p>Despite these challenges, Nvidia provided a strong outlook for the second quarter, with revenue expected to be $45.0 billion, plus or minus 2%.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Economic_Data_and_Fed_Speakers\"><\/span>Looking Ahead: Economic Data and Fed Speakers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors will also be watching for the latest data on pending home sales in the U.S. expected later today, as well as commentary from several Federal Reserve officials that could provide insights into the future direction of monetary policy.<cscitation citation_id=\"task_2__1\"><\/cscitation><\/p>\n<p>The combination of positive earnings reports, particularly from AI leaders like Nvidia, along with the court&#8217;s decision to block Trump&#8217;s tariffs, has created a favorable environment for stocks as we approach the end of May. However, market participants will continue to monitor developments in trade policy, upcoming earnings reports, and economic indicators for signs of the market&#8217;s future direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Rally on Tariff Ruling and Strong Tech Earnings U.S. stock markets are experiencing a significant rally on Thursday, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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