{"id":49538,"date":"2025-05-29T14:02:07","date_gmt":"2025-05-29T19:02:07","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/"},"modified":"2025-05-29T14:02:07","modified_gmt":"2025-05-29T19:02:07","slug":"stock-market-today-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/","title":{"rendered":"Stock Market Today: S&#038;P 500 and Nasdaq Rally on Nvidia Earnings, Court Blocks Trump Tariffs"},"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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Major_Indexes_Close_Higher_as_Tech_Leads_the_Way\" >Major Indexes Close Higher as Tech Leads the Way<\/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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Nvidia_Leads_Tech_Rally_Despite_China_Warning\" >Nvidia Leads Tech Rally Despite China Warning<\/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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Court_Ruling_Blocks_Trump_Tariffs_Boosting_Market_Sentiment\" >Court Ruling Blocks Trump Tariffs, Boosting Market Sentiment<\/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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Notable_Stock_Movers_and_Corporate_News\" >Notable Stock Movers and Corporate News<\/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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Economic_Data_and_Upcoming_Events\" >Economic Data and Upcoming Events<\/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-sp-500-and-nasdaq-rally-on-nvidia-earnings-court-blocks-trump-tariffs\/49538\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Higher_as_Tech_Leads_the_Way\"><\/span>Major Indexes Close Higher as Tech Leads the Way<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market closed higher on Thursday, May 29, 2025, as investors cheered strong earnings from AI chipmaker Nvidia and reacted positively to a court ruling that blocked most of President Donald Trump&#8217;s tariffs. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC) gained 0.8% to close at 5,912.88, while the tech-heavy Nasdaq Composite (^IXIC) climbed 1.4% to 19,223.91. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI) posted a more modest gain of 0.3%, finishing at 42,128.86.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<p>The market&#8217;s positive performance came despite concerning economic data showing that U.S. GDP contracted 0.2% in the first quarter, slightly better than economists&#8217; forecast of a 0.3% contraction.<cscitation citation_id=\"task_3__2\"><\/cscitation> May has been a solid month for equities, with both the S&#038;P 500 and Nasdaq on pace for their best monthly performances since November 2023.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nvidia_Leads_Tech_Rally_Despite_China_Warning\"><\/span>Nvidia Leads Tech Rally Despite China Warning<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>) was the star performer of the day, jumping more than 5% after reporting quarterly revenues that soared 69% to $44 billion, easily beating Wall Street forecasts.<cscitation citation_id=\"task_3__3\"><\/cscitation> However, CEO Jensen Huang warned that the company expects to miss out on $8 billion in revenue in the second quarter due to Trump&#8217;s trade restrictions on AI chip exports to China.<\/p>\n<p>&#8220;The Chinese competitors have evolved,&#8221; Huang cautioned, noting that companies like Huawei have become &#8220;quite formidable&#8221; in the AI chip space.<cscitation citation_id=\"task_3__3\"><\/cscitation> Despite these concerns, investors focused on Huang&#8217;s optimistic outlook for &#8220;exponential growth&#8221; in the AI computing market.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>Other tech giants also performed well, with the Philadelphia SE Semiconductor index rising 1.2%. Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>) shares gained 1.6% after CEO Elon Musk confirmed he would formally leave his role in the Trump administration.<cscitation citation_id=\"task_1__3\"><\/cscitation><cscitation citation_id=\"task_3__3\"><\/cscitation> Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>) added 0.4% while Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) edged up 0.1%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Court_Ruling_Blocks_Trump_Tariffs_Boosting_Market_Sentiment\"><\/span>Court Ruling Blocks Trump Tariffs, Boosting Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A significant catalyst for Thursday&#8217;s market gains was a ruling by the U.S. Court of International Trade that blocked most of President Trump&#8217;s sweeping tariffs imposed since January.<cscitation citation_id=\"task_1__1\"><\/cscitation> The decision invalidated with immediate effect many of the tariffs, though it did not address some industry-specific levies on automobiles, steel, and aluminum.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>The White House has already filed an appeal against the decision, creating some uncertainty about the ultimate outcome. Nevertheless, the ruling provided temporary relief for companies concerned about the impact of tariffs on their supply chains and consumer demand.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movers_and_Corporate_News\"><\/span>Notable Stock Movers and Corporate News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While tech stocks led the gains, there were notable movements across other sectors:<\/p>\n<p>&#8211; Boeing (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BA\">BA<\/a>) climbed 3.3% after CEO Kelly Ortberg announced plans to increase production of 737 MAX jets to 42 aircraft per month in the coming months and boost output to 47 monthly in early 2026.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>&#8211; Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>) was a significant drag on the Dow, slumping 6.3% despite raising its annual revenue and adjusted profit forecasts.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>&#8211; Best Buy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BBY\">BBY<\/a>) dropped 9.8% after the electronics retailer lowered its annual comparable sales and profit forecasts, citing concerns about U.S. tariffs weighing on consumer demand for big-ticket items.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>&#8211; E.l.f. Beauty (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ELF\">ELF<\/a>) surged 23.6%, making it one of the day&#8217;s <a href=\"https:\/\/stockmarketwatch.com\/movers\/today\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Top Stocks\">top gainers<\/a>.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_and_Upcoming_Events\"><\/span>Economic Data and Upcoming Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thursday saw the release of several important economic indicators. The second reading of Q1 GDP showed a contraction of 0.2%, while initial jobless claims rose to 240,000 for the week ending May 24, higher than the expected 230,000.<cscitation citation_id=\"task_2__1\"><\/cscitation> Corporate profits declined 3.6% in Q1, a significant reversal from the 5.9% growth in the previous quarter.<\/p>\n<p>Pending home sales disappointed, falling 6.3% month-over-month in April, much worse than the expected 0.9% decline.<cscitation citation_id=\"task_2__1\"><\/cscitation><\/p>\n<p>Looking ahead, investors will be watching Friday&#8217;s economic releases, including consumer confidence data. The market will also be monitoring developments in the Trump administration&#8217;s appeal of the tariff ruling and any potential retaliation from China regarding U.S. export restrictions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite Thursday&#8217;s gains, the S&#038;P 500 remains about 3% below its all-time high touched on February 19, having rebounded from a nearly 19% decline earlier in April.<cscitation citation_id=\"task_3__2\"><\/cscitation> Eight of the eleven major S&#038;P 500 sectors rose on Thursday, with information technology and real estate being the biggest gainers.<\/p>\n<p>As May draws to a close, investors are balancing optimism about strong corporate earnings against concerns about economic contraction, persistent inflation, and ongoing trade tensions. The Federal Reserve&#8217;s cautious approach to interest rates, maintaining them between 4.25% and 4.5%, reflects these complex economic crosscurrents.<cscitation citation_id=\"task_2__3\"><\/cscitation><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Higher as Tech Leads the Way The U.S. stock market closed higher on Thursday, May 29, 2025, 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