What is behind the NVIDIA rally?

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A big rally in stocks that began in Asia on Thursday is easeing the accelerator because of uncertainty, what will happen after a U.S. court blocked a large number of presidents Donald Trump. After abandoning most of its early gains, the S&P 500 was 0.3% higher in afternoon trading. As of 1:23 PM ET, the Dow Jones industrial average rose 29 points, or 0.1%, and the Nasdaq Complex was 0.5%.

It was a downshift after the stock initially jumped nearly 2% in Tokyo and Seoul, and the U.S. Court of International Trade had a chance to react to the ruling later Wednesday. It said Trump, which levied heavily on imports from around the world, did not authorize the use of tariffs.

The ruling has made hope in financial markets that a troubled Trump will not be able to fall into a recession with his tariffs that could cut global trade and raise prices for consumers who are already tired of high inflation. Trump said he wanted to bring manufacturing jobs back to the United States, warning that the process could cause some pain to American families.

But the White House filed a notice of appeal, and the long-term outcome of the legal dispute over tariffs remains uncertain. The court’s ruling also affects only some of Trump’s tariffs, not foreign steel, aluminum and automobile tariffs, which are cited under different laws.

According to Ulrike Hoffmann-Burchardi, chief investment officer of Global Equity in UBS Global Wealth Management, Trump “still be able to impose significant and extensive tariffs in other ways for a long time.”

This uncertainty helps weaken the excitement of financial markets, as transactions enter the United States through Europe, where the move is much more modest than Asia. Nevertheless, the U.S. court action is seen as a positive for the financial market.

“The tariffs raised by President Trump,” said Brian Jacobsen, chief economist at the Attachment Wealth Management.

“The market pricing is that it is a better uncertainty than we have since Liberation Day.”

After a slight decline of about 20% last month, the S&P 500 has been within 3.9% of its all-time high.

In front of technology inventory, NVIDIA leads

_{Expert John McNierney left, working with merchants on the floor of the New York Stock Exchange, Thursday, May 29, 2025. (AP Photo/Richard Drew)}

On Wall Street, tech stocks came after NVIDIA once again surpassed analysts’ expectations for profit and revenue in the latest quarter.

Due to the madness of artificial intelligence technology, CHIP has grown into one of the largest and most influential stocks in the U.S. stock market, with a 3.8% rise being the strongest force, reaching the S&P 500.

AI application software company C3AI reported a 25.9% higher profit than analysts’ latest quarter. It also said the Air Force increased the maximum value of its contract by $350 million to $450 million. The company’s revenue last quarter totaled $108.7 million.

Elf Beauty is another big winner, up 23% after cosmetics companies earned higher profits than analysts expected in the quarter. It also said it agreed to buy Hailey Bieber’s Rhode Skincare brand in a $1 billion deal. Rhode had $212 million in net sales in 12 months in March.

Model, Bieber, wife of singer Justin Bieber, will serve as Chief Creative Officer, Head of Innovation for Rhode and strategic consultant for the merged company.

They helped offset Best Buy’s decline, even though it reported profits 8.8% higher than expected. Its revenue is insufficient for analysts’ forecasts.

E-retailers also assume that “the tariffs remain at current levels for the rest of the year, and consumer behavior has not changed substantially from recent trends,” said Chief Financial Officer Matt Bilunas, who said Chief Financial Officer Matt Bilunas.

Many companies recently said the uncertainty arising from tariffs makes it too difficult to provide any financial forecasts in the coming year.

In the bond market, treasury output has decreased after some mixed reports of the economy. Some say that in the first three months of the year, the U.S. economy may shrink less than previously estimated. Another said that American workers filed for unemployment benefits last week, far exceeding economists’ expectations.

Treasury production declines, international market gatherings

The 10-year Treasury yield fell to 4.43% from 4.47% late Wednesday. The two-year fiscal yield shifted more closely with expectations that the Fed would be in overnight rates, falling from 3.96% to 3.95%.

In foreign stock markets, Japan’s Nikkei 225 jumped 1.9% to help lead the Asian market, while Hong Kong stocks rose 1.4% and Shanghai rose 0.7%. South Korea’s Kospi rose 1.9% after South Korea’s banks lowered their key interest rates to relieve pressure on the economy.

European stocks have been more gentle. France’s CAC 40 fell by 0.1%, while Germany’s DAX fell from early growth to 0.4%.

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