Market Surge: Nvidia's Sales and Court Ruling Lift Wall Street
Wall Street saw gains as a federal court ruled against most of Trump's tariffs, while Nvidia's sales rose 69% driven by AI demand. This growth in the AI sector, alongside reduced trade tensions, boosted investor confidence and propelled major indexes upward. However, concerns about future exports to China remain.
Wall Street's primary indexes saw upward momentum on Thursday, following a favorable federal court ruling against most tariffs initiated under former President Donald Trump. Additionally, AI industry leader Nvidia reported an impressive 69% increase in quarterly sales.
Nvidia shares surged by 5% as customers increased their stockpiling of AI chips, anticipating U.S. export restrictions on China. Despite the favourable sales boost, Nvidia cautioned that impending export curbs could cost the company $8 billion in current-quarter revenue.
The Philadelphia SE Semiconductor index climbed 1.4% after Nvidia's report. Major sectors including information technology and consumer discretionary posted gains, driven by an overall increase in global risk appetite due to the court's decision against Trump's broad tariffs.
(With inputs from agencies.)
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