{"id":49533,"date":"2025-05-29T10:02:03","date_gmt":"2025-05-29T15:02:03","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-markets-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/"},"modified":"2025-05-29T10:02:03","modified_gmt":"2025-05-29T15:02:03","slug":"stock-market-today-markets-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-markets-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/","title":{"rendered":"Stock Market Today: Markets Rally 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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Major_Indexes_Surge_on_Tariff_Ruling_and_Strong_Tech_Earnings\" >Major Indexes Surge 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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Nvidia_Leads_Tech_Sector_Higher_Despite_China_Challenges\" >Nvidia Leads Tech Sector Higher Despite China Challenges<\/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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Economic_Data_Points_to_Slowing_Growth\" >Economic Data Points to Slowing Growth<\/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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Notable_Stock_Movers_Beyond_Tech\" >Notable Stock Movers Beyond Tech<\/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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Upcoming_Market_Events_to_Watch\" >Upcoming Market Events to Watch<\/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-rally-as-court-blocks-trump-tariffs-and-nvidia-impresses\/49533\/#Market_Outlook_and_Analyst_Perspectives\" >Market Outlook and Analyst Perspectives<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Surge_on_Tariff_Ruling_and_Strong_Tech_Earnings\"><\/span>Major Indexes Surge on Tariff Ruling and Strong Tech Earnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market is showing significant strength in midday trading on Thursday, May 29, 2025, as investors react positively to a court ruling blocking some of President Trump&#8217;s import tariffs and impressive earnings from tech giant Nvidia. <\/p>\n<p>As of midday, the <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> is up 0.8% to 5,991.75, reaching a one-week high. The tech-heavy Nasdaq Composite is leading gains with a 1.4% increase to 19,100.94, hitting a three-month high. Meanwhile, the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average has added 0.3% to 42,154.81.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>The market rally comes after the U.S. Court of International Trade issued a unanimous ruling late Wednesday that blocked President Trump&#8217;s &#8220;Liberation Day&#8221; tariffs on global goods. The court determined that Trump wrongfully invoked emergency powers to justify the tariffs. The ruling applies to Trump&#8217;s global 10% flat tariff, elevated rates on China and other countries, and fentanyl-related tariffs on China, Canada, and Mexico.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nvidia_Leads_Tech_Sector_Higher_Despite_China_Challenges\"><\/span>Nvidia Leads Tech Sector Higher Despite China Challenges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Semiconductor stocks are leading today&#8217;s market gains, with Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>) jumping more than 5% after reporting stellar quarterly results. The AI chip giant posted Q1 revenue of $44.06 billion, exceeding analyst expectations of $43.29 billion. Nvidia&#8217;s market capitalization has surged by approximately $160 billion to nearly $3.5 trillion, temporarily making it the world&#8217;s most valuable company, surpassing Microsoft.<cscitation citation_id=\"task_3__1\"><\/cscitation><cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<p>Despite the positive reaction, Nvidia warned of significant challenges related to U.S. export restrictions to China. The company took a $4.5 billion charge last quarter and expects a further $8 billion loss this quarter due to these restrictions. During the earnings call, CEO Jensen Huang expressed concerns about the export controls while predicting &#8220;exponential growth&#8221; for the AI computing market.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<p>Other semiconductor stocks are also rallying, with Microchip Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCHP\">MCHP<\/a>), GlobalFoundries (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GFS\">GFS<\/a>), ON Semiconductor (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ON\">ON<\/a>), Micron Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MU\">MU<\/a>), and Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>) all posting gains of more than 2%.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_Points_to_Slowing_Growth\"><\/span>Economic Data Points to Slowing Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Today&#8217;s economic data releases have provided mixed signals for investors. U.S. weekly initial unemployment claims rose by 14,000 to 340,000, indicating a weaker labor market than expected. Weekly continuing claims unexpectedly increased by 22,000 to a 3\u00bd-year high of 1.919 million.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>In a slight improvement from initial estimates, U.S. Q1 GDP was revised upward to -0.2% (quarter-over-quarter annualized) from the previously reported -0.3%. Additionally, the Q1 core PCE price index, the Federal Reserve&#8217;s preferred inflation gauge, was revised lower to 3.4% from the previously reported 3.5%, which could be seen as a dovish factor for Fed policy.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>The 10-year Treasury note yield has declined by approximately 3 basis points to 4.45% in response to these economic indicators.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movers_Beyond_Tech\"><\/span>Notable Stock Movers Beyond Tech<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While tech stocks are leading today&#8217;s rally, several other companies are making significant moves:<\/p>\n<p>&#8211; Elf Beauty (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ELF\">ELF<\/a>) has surged more than 26% after reporting strong Q4 net sales of $332.6 million and announcing the acquisition of Hailey Bieber&#8217;s Rhode beauty brand for $800 million.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>&#8211; Veeva Systems (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VEEV\">VEEV<\/a>) is up more than 18% after beating Q1 revenue expectations and raising its full-year forecast.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>&#8211; Nordson (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NDSN\">NDSN<\/a>) has gained more than 9% after reporting better-than-expected Q2 sales and providing strong Q3 guidance.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>On the downside:<\/p>\n<p>&#8211; HP Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=HPQ\">HPQ<\/a>) has dropped more than 8% after reporting disappointing Q2 adjusted earnings and cutting its full-year forecast.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>&#8211; Best Buy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BBY\">BBY<\/a>) is down more than 7% after reducing its 2026 adjusted EPS guidance, citing economic uncertainty around tariffs.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>&#8211; SentinelOne (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=S\">S<\/a>) has fallen more than 13% after lowering its 2026 revenue forecast.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_to_Watch\"><\/span>Upcoming Market Events to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely monitoring several key events that could impact market direction in the coming days:<\/p>\n<p>Today after market close, Costco Wholesale (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=COST\">COST<\/a>) will report its Q3 2025 earnings, which will be closely watched given the difficult position retailers find themselves in regarding potential tariff impacts.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>Other notable companies reporting earnings today include Dell Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DELL\">DELL<\/a>), Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>), Gap (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GAP\">GAP<\/a>), Ulta Beauty (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ULTA\">ULTA<\/a>), and Zscaler (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ZS\">ZS<\/a>).<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>Looking ahead to Friday, investors will focus on April personal spending (expected +0.2% month-over-month) and personal income (expected +0.3% month-over-month). The April core PCE price index, the Fed&#8217;s preferred inflation gauge, is expected to rise +0.1% month-over-month and +2.5% year-over-year.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Analyst_Perspectives\"><\/span>Market Outlook and Analyst Perspectives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Q1 earnings season is winding down, with more than 90% of S&#038;P 500 companies having reported results. Impressively, 77% have beaten estimates, the highest percentage since Q2 of 2024. Earnings growth in Q1 is running at +13.1%, significantly higher than the +6.6% expected before the start of the season.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>Despite today&#8217;s rally, market participants remain cautious about potential volatility related to trade policies. The Trump administration is expected to appeal the court&#8217;s tariff ruling in federal court, which could create uncertainty in the coming weeks.<\/p>\n<p>Analysts are particularly focused on how retailers will navigate the challenging tariff environment. President Trump recently told Walmart to &#8220;eat&#8221; price hikes associated with new duties following its latest results, putting pressure on the entire retail sector.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>As we move into the final month of Q2, investors will be watching closely for any signs of economic slowdown or inflation resurgence that could influence the Federal Reserve&#8217;s monetary policy decisions in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Surge on Tariff Ruling and Strong Tech Earnings The U.S. stock market is showing significant strength in midday [&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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